Dueling families of Tradmeet: the Wiki lies!

OK, the wiki I read says that if you kill Gristor and his guards, you won't have any consequences like losing rep, and he will drop a set of Elven chain mail. This is all complete and utter BS. Rasaad, Anomen and Nalia were all totally appalled; I had to appease them by pinky swearing never to do any such thing ever again. Worst of all, there was NO elven chain mail. What a fiasco.
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Gristor has nothing to do with the quest you are talking about, and the wiki correctly identifies him as innocent (affecting your reputation if killed).
>Lord Skarmaen Alibakkar (Trademeet): The armor is available early in the game. It can be obtained during the questline to help Trademeet. After clearing the Druid Grove, two nobles will compete for the city's favor. If you work with Lord Alibakkar to steal a family mantle, you will receive the armor as a reward. You can also kill Alibakkar for the armor and other items.<
I had already given the mantle to the High Merchant, so, I killed the guy and he dropped nothing.
You'll also get enchanted elven chain later on. Including a set that gets a ToB upgrade.
The one class that elven chain is really good for? Bards. It's the only kind of armor they can use (before UAI) that allows spellcasting. Unless you're willing to throw away the spells entirely, it's elven chain or nothing.
For the BG1 campaign, elven chain is available through Dorn's quest. One of the enemies in the big battle east of BG city drops it.