I know I hunted wisps every opportunity I had. If I remember
correctly, I could start to handle one at around 8th or 9th level, but then
could grab 3 of them before I outgrew them around 14th or so. Good
experience, great loot (especially when combined with the gypsy quests in
Oasis or NK). In East Antonica the best place to nab them is in the Commons,
particularly EC. In the Western portion, the best place to hunt for wisps is
on that island as you head toward Erudin.
I remember cranking out around 400pp or more just from woprking the
wisps. Not bad for under 20th level. In addition, Greater Light Stones were
only going for around 5 or 6pp on my server, so I bought all that I could
when I took my trips to the gypsies. I made a nice profit, established some
nice business contacts, and picked up some extra experience in the process.

Eberwulf (Solusek Ro)

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