The 'Standard' in the quest name is regarding the collecting of the dwarven standards. The quest was in-game before you could plant your own banners (well, you could in Alpha, but...).

I had no trouble figuring out where to go the first time I did this quest. It took like 6 failed jumps to think about trying a different direction for my jump, but my first jump to the right went smoothly.

I like the different activity presented by this quest, and kind of wish there was more use of jumps in quests/dungeons. However, I think any jump-required areas should be 'bonus' areas so they don't stop you from completing your quests if you are incapable of making the jumps for whatever reason.