I got it around 300 hours in, currently at ~333.
Don't get too excited sparky, people are statistically as likely to get it as they aren't. In other words, there is an entirely plausible world, where someone will NEVER get a Gjallarhorn, unless given the means to purchase (which is unlikely, unless some new godly weapon releases in HoW).
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This is really old lol. I'm not excited, I was for about 2 minutes.