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Ive also got quite a few really nice etechs from the red chests after killing him. Ive even pulled a few oranges from them as well.
You will most likely loot your way to the best versions of class mods(purple/blue/slayer) as well as some really nice nade mods. Longbow slag singularity with a quick fuse time, or any element honestly. Quasars are obviously the best for the singularity type of gameplay, but ive some really nice purple longbow singularities in all elements drop from terra. As well as some really nice absorb shields(if you dont have a sham/transformer/sponge)
Got the Sham. Really looking for the Terramorphous Shield and the Pitchfork Sniper Rifle. Odd how there are areas you can get different Bee shield or the B!*%# SMG really quick. Others not so much.