A couple months ago we took on this challenge with success. We started out with 2 groups and after we found a certain groove he was fairly simple, but still time consuming. Took us a good while to get him down to 40% with the 2 groups we had, and when another 4-5 people showed up he seemed to drop the last chunks in a matter of minutes.
He does port around and heal as reported. There is no way to stop the porting, but we seemed to find a way to limit his heals. He had a tendancy to heal as/after he ported, which he did near/into a group of the tree mobs. We had a minstrel running around the area disposing of all the trees she could and it seemed to stop his obsurd healing ability. You will want to make sure you have alert tanks for the fight. When he ports, he takes off running in 1 direction, then repops in another. There's no sence to chasing him around when he runs away, just unstick and /face him to enter combat sooner.
I don't know if he's zergable because of all the porting but its always worth a try. He's definately not your typical lvl 60 mob and the drops are basically crap. Kinda like Xanicar, only the remains are worth getting which even those aren't too extroidinary, but you'd have the bragging rights.