He does take risks.
First let me say I think that its great that there is a big character in the game. Gives everyone something to fight and dream to be.
Second. How much are you risking in a pk against Ravon? Maby you have some nice gear but what are the odds that he will take any of it if you fall?
If Ravon falls do you think he expects you to give his weapon or his gear back? I am quite certain that most will be looted or saced.
And if you look at the logs Ravon have posted in some of them iron grip drops so a strip/hook/disarm would have been disaster for him there.
As for fighting or not fighting him I would say that is up to you. If you feel you do not wish to fight him use the quaff teleport or c 'teleport' command. Yes he has sight of the damned but he can not use it all the time its not like track the wicked that is much more annoying in my eyes.
Just though it was time to say that all this wining about a great char is not the opinion of all. But maybe just the loudest?