I like the idea a lot, and will attempt to figure out the quest wizard.
I really like the idea of multi-location/multi-fight quests - both a combination of the morgana's and arena - where you can cancel the quest and get A or continue and get B or continue and die horribly. Actually, I'm going to see if you can get an affect upon death - then you can win and get C or lose and get D (most likely a trait, "scarred for life").. hmmm (and if someone wants to steal the idea and just implement it...)
Not sure you should limit it to 1/person - quality is key but if someone is really good at it I don't think the community should lose the potential content.