the gloves.. hmm.. seems to ring a bell.. chest on the bottom of the sea.. when you open it the entire ocean comes after you? .. well the sharks anyway..?
if so I can help out.. got a secret trick, might even still work
Gloves are easy, make sure you have a healer with 2 insta heals up and a skald with SOS. done this with my hunter.
The bow is a pain, took me 3 hours to get it, located the mob after 1 hour then took me 2 hours to kill the damn thing, He kept running when i pulled him lol.
Hint for the bow, its up if there are birds (harpies?) flying above, they dive at the water and thats where the octopus is from my experience.