Yes the level estimate is around that area, he always cons red to a level 50. I've killed him several times solo with my runie, never once died from him. Fogo's Facts always drops, and he usual drops ther random items with it, so far I've only had sellable items, no armour or weaponary. So the drop rate of the items is quite a low one. :)
While he himself is not that tough (I've killed him twice w a 50 lvl Vampiir) he will call several 50 lvl helpers. If you can kill him, the helpers stop fighting and walk off.