Kill the tentacle and recieve 1-3 giant squid pieces. You may repeat this procedure till 28 bits have been masked by surronding players along with you. Once all pieces have been fished you can then try and kill the main body. To do this simply fish and expect. The mind will come up lv 137 and kill it. You may recieve squid head and nice caviar.
The meals, Squid bit - Cooking 65- Heals 17 exp 121. Squid head-Cooking 93-heals 25 exp 870. The head cannot be traded but may be assisted. It can be exchanged once cooked. Squid piece and caviar could be traded cooked or raw.
And no, I don't think the pursuit will be similar to this, I know Jagex has already begun it. But hey, I can dream, can't I? Requirements: all of the quests involving the mahjarrat, such as Legacy of all Seergaze, Defender of Varrock, and Desert Treasure, as well as one successful looting of this Barrows; you need Eagle's Peak, and also you have to have been within the God Wars Dungeon.