I tamed a lvl 20 Ghost Saber as a Troll. A little information:
* You'll have to get the flight path at Zoram'gar outpost (east of Ashenvale) or Bloodvenom post (Middle of felwood, lvl 50+ mobs)) for these are the closest fp to get to the Ruins of Mathstra (RoM).
* Since its an Alliance territory they can kill, you' won't be able to hit them untill they start hittting you. If you come to die, the graveyard is down in the south of Darkshore. Its 15 min run from there back to RoM.
* Once you're there you'll have to able to fight of Naga's around lvl 20 ish. So you better have a pet with you (that you'll obviously will abandon) to help with the fight, if you're lvl 20 that is.
* As for the figurines, there most commenly located near blocks of ruin. The respawn time is 5 min. There are like 7-8 of them around the pit.
* I used to do a route where i would loot 4 figurines and once the last one was looted my first one would be up again. (Note: fighting naga's inbetween)
* My first Ghost Saber spawn was after 20-25 figurines... then I got killed by an Alliance while taming it. It took me another 20 for the next spawn so I would guess it has a 5% chance of spawning. (This could be verry wrong, just a wild guess)
* A good tip, always put an ice trap before you open a figurine. You might die while channeling if you don't use one.
I hope this information helps, Jinz.