Once you get friendly with the Bloodsail Buccaneers, you can talk to Fleet Master Firallon on one of their ships, who gives you a quest for this hat:
http://wow.allakhazam.com/db/item.html?witem=12185
The quest is pretty damn hard considering all the bruiser spawns that blizz have added, basically you need to fly in from Grom'gol and almost immediately kill one of the npc's, die, rez at the other NPC and kill it very very fast, then spirit rez (at least I had to).
The hat is pretty damn nifty though, and it impresses people when you have it :P Not a lot of Bloodsail Admirals running around usually. Also, the Bloodsail NPC yells your name in Stranglethorn Vale when you complete the quest, so it's fodder for your e-peen. Makes good screenshots too
