That is what I did in DKS, jumping onto a rock (at the bottom of the path that leads up to the sleeping travelers), killing the level 22 killer rabbit on level 10. In DKS he drops some random equipment, though, so I reloaded my previous save (I will get the same experience up to level 19, but the loot quality should be better if I wait).
I don't think he drops anything in D2:ED, though.
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