If you have any kind of income starting a new bard in Qeynos, this quest is a waste of time. But if you are starting fresh or self-found, you can do it right when you hit level 5, get your level 6 song for free, and for the first time on your character, experience the speed of running with Selo's and a drum, and even be a little richer when you return because you remembered to tell Mistrana Two Notes you would deliver bard mail to Qeynos.
https://wiki.project1999.com/Broken_Lute