The Val'kyr is now supposed to have 1 up per zone unless it's already been caught. The respawn rate is pretty fast, possibly as quick as 5 minutes, but it will respawn in one of the other points in the same zone. There are typically 3 spawn locations, so check them all, but don't bother heading to another zone if you don't see one just wait about 5 minutes and check again. Yes, you can probably sit around and just keep catching and releasing them until you get what you're looking for stat wise or rare.
1545 pets
The Val'kyr is now supposed to have 1 up per zone unless it's already been caught. The respawn rate is pretty fast, possibly as quick as 5 minutes, but it will respawn in one of the other points in the same zone. There are typically 3 spawn locations, so check them all, but don't bother heading to another zone if you don't see one just wait about 5 minutes and check again. Yes, you can probably sit around and just keep catching and releasing them until you get what you're looking for stat wise or rare.