Alright everyone lets stop with the "I tamed him and it was awesome" posts, we're all trying to tame this guy (atleast i hope we all are) so lets get down what we can and cannot confirm about this guy.
What i can confirm about camping this guy is that:
1. He only appears to have one spawn point.
This may seem a bit odd that such an amazing pet has only 1 spawn point taking out the aimless flying around in circles hoping for him to spawn, but its pretty clear what blizzard have done here.
They haven't hidden him away like the other spirit beasts, only to be found by the lucky questers and devoted hunters, they have put him out in plain sight, meaning he is found be EVERYONE.
Blizzard are making other players your worst enemy in taming this beast and i could ramble on about all the times this has effected me but that wouldn't help anyone.
2. Appears to have a MINIMUM of a 12 hour cooldown, he could spawn anywhere from on the 12 hour mark or hours later, just comes down to luck and how devoted you are.
3. Is a spirit beast with all the spirit beast skills (prowl, spirit strike etc)
4. Is a DPS pet not a TANKING pet, this supprised me and alot of other hunters, don't know why because it was pretty clear that he was going to be just another spirit beast.
5. Looks amazing and the fact that we can have a ghost bear dpsing for us should be enough for any hunter to atleast want this guy to show off.
6. Macros and addons are really not needed, just get into a place where you can see the from the water to the trees and he'll pop up in your line of vision sooner or later, remember he is a rarther large shiny bear.
7. Is, like every other spirit beast, a neutral mob.
8. Most recorded spawns see him at lvl 74.
9. Is just a repeat of 5, he really does look very nice.
This is all i've gathered so far, please can we start putting in usefull posts about this mob.
3 days, 3 noted spawns, 6 horde, 0 tames (for anyone)
Still going strong.
Happy Hunting!
EDIT: Tamed - 16 hours and 42 mins after his last death.