i wish for the lvl 58 quest we could get class specific mounts like: phoenix for fire, ice wyvern for ice, stormzilla for storm, centaur for life, orthrus for myth (nice orthrus merchandise we have here, a pet and a mount), skeletal dragon for death and maybe a hydra for balance? these are just ideas of course.
I actually like the idea of school only mounts, but don't see them being "free" if they were to make them. Crown item? This could make magic schools more distinctive if only your school could ride them.