Touch the torch again (make sure you touch the same torch you used to spawn him) to receive the Shadow Flames (key item).
If other players in the party also need this key item, they can touch the torch as well - you don't have to fight him for each person.
Head back to Port Jeuno and click on the ??? at the toolbox for a cutscene. This completes the quest.
The Rest
This quest does not need to be active in order to obtain the other (non hand) equipment from coffers. Only requirements for this are that you open them on the appropriate job at the appropriate level of 50+ with AF2 quest started.
Guslam mentions something about armor scattered about Vana'diel. You can find two more pieces of armor by simply opening coffers in the following zones: