From dialog with other players the Charybdis does not drop armor after each death like UO.com reports. Here are the details I can find on the armor to assist with the implementation of it. It sounds like they are not that great, but if they dont drop, adding them would at least make the lethal fight with the Charybdis worth while to a collector of armor sets.
Charybdis – Ultima Online
uo.com
Buy UO Virtuous Regeneration Armor Set - Ultima Online Gold - UltimaCodes Store
UO Ultima Online Virtuous Regeneration Armor Set details: properties, picture, price
ultimacodes.com
A Question and Discussion Pertaining to the Item Properties "Mana Burst" and "Healing Burst"
Hello there.
forum.uo.com