I think everyone is missing the point. It's NOT Halloween related. It's celebrating the life of people who have passed away the year, and in some cultures, inviting the soul of the deceased to visit the living. Yeah, skulls are used primarily in costumes and such, but so are flowers. So IMO, the flower band is fitting. Not everything has to be about death on Halloween. What about the costumes of living people and creatures?
In my eyes, the reward fits the event anyway. It's nothing to collect 70 skulls. The hardest part of the quest is walking back to the NPCs when you turn coward and run all the way back to your save point. But that was kind of entertaining itself...for the first two times. My only gripe about the quest is that...yeah, it's an easy quest. But why do ALL quests have to have random rewards for them? Tired of random. And cool down timers. If someone really wants to bot a 1 mil zeny head gear, let them. They'll just drive the price down into the dirt, because no one will want it.