Maybe it's just me, but shouldn't there be better rewards for finishing the hard tower in Ravenwood? The final boss was pretty hard, and all I got was a black cat treasure card and some equipment designed for wizards 30 levels below me. I tried going back to Jack Hallow to see if he would give me something for doing all 3 towers, but no such luck.
The towers are designed to be done repeatedly. Each one drops random stuff you just have to be willing to farm for the items. I got the wraith statue and a friend got a brute piggle pet. Those to me are good drops and worth doing over again. I have gotten some lame equipment too but these quests are not limited to levels other than 5+. Just have patience and fun with them and sell the items you don't need or want for gold.