Yup, the goblin ring is insanely tedious. The main problem is you have to constantly be active and keep area clear to not only get the couriers to pop, but also to kill them before the goblins do. Couriers are around level 16 and the local goblins are 21-25 or so, including fairly tough casters.
It is doable for sure, but I wouldn't count on the camp as a decent source of income unless you have lots of time and nothing better to do with it... I was lucky and got one for myself on third courier in about 2 hours. Classes with good AE spells can make quicker work of it, but the effort is still rather high for such a rare drop off a rare-ish spawn.
Most folks seem to camp for several hours a day for many days and never see one. RNG...
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