POWERS
The dragon class has three mutually exclusive core powers; Draconian Form, Dragon Form and Human Form. This post focuses on true dragons and the powers available to them, and for such builds Dragon Form should be one of your primary powers; the higher your rank, the tougher your hide, the stronger your talons and jaws, and the more potent your breath.
Most dragons cannot wear or use any equipment, which is quite a hefty penalty. To get around this, they may choose one of the following mutually exclusive powers:
Dragon Barding: This power allows you to wear up to five pieces of armour; a champron on your head and face, a criniere on your neck, a peytral on your chest, flanchards on your back and flanks, and a croupiere on your rump. You may also wear a pair of wing-spikes and two pairs of dragonspurs (or two pairs of wing-spikes and one pair of dragonspurs if you're a wyvern). As your rank increases, you get additional bonuses based on the precious metals your equipment is made from - gold improves your damage, silver improves attack, and so on.
Treasure Hoard: This power allows you to add items to your treasure hoard (as a form of magical fuel), and then draw upon your hoard to grant a powerful combat buff. The bonuses you gain from the hoard can be fully configured, assuming you've sufficient fuel of the appropriate types, with different items unlocking and enhancing different buff options.
Each dragon may also choose one of the following mutually exclusive movement powers:
Lord of the Skies: All dragons begin with wings, but this power strengthens them, allowing you to fly further and faster, as well as improving the effectiveness of your wingbash and swoop attacks. This power also negates the normal exhaustion penalties for remaining airborne.
Lord of the Lands: You're one of the wingless earthbound dragons, appearing much like dinosaur. Tougher and stronger than most dragons, you are a fast runner capable of leaping great distances, although you cannot match the speed of a flier. Wyverns retain their wings, but much like an emu or ostrich these vestigial wings will no longer be capable of flight.
Lord of the Seas: You're one of the wingless aquatic dragons, capable of swimming at great speed, although you are also able to move on land and even levitate into the air (exactly like Chinese dragons, who also happen to be strongly associated with water - no, that's not a coincidence!). Wyverns with this power develop pectoral wings similar to those of a stingray.
Dragons also have various other options, such as:
Lashing Tail: This power significantly increases the strength of your tail attacks. This is particularly valuable for serpents, as their tails are naturally enhanced and they lack the talons for making regular attacks.
Salamanders Gift: This power improves your regeneration rate, allowing you to rapidly heal injuries and even (at higher ranks) regrow lost limbs. This power is particularly important for hydra, as every 5 ranks gives them an extra head.
Draconic Rage: You're able to enter a mighty rage, giving you a range of different combat bonuses (most of which are tied into the five magic powers described below). At rank 5 you also unlock the Extended Rage power, which gives your rage further bonuses.
Draconic Aura: This power sharpens your senses, allowing you to detect enemies nearby. You may project either your awareness, an aura of fear, or an anti-magic aura, but it takes time to switch between the three options. Note that the anti-magic aura was directly inspired by Mabus's post in the original design thread (as I mentioned there, I felt it was too specialised to be its own power, but I think it works great as one of three options).
Dragons are magical beings, and this is primarily reflected by their five magic powers. Although dragons can train up all five of these powers, they get particularly strong bonuses for improving the one related to their colour:
Chill of the Tundra: Improves cold damage, protection and spells, and gives defence bonuses while raging. These bonuses are doubled if you have White Dragon Descendant.
Eye of the Storm: Improves lightning damage, protection and spells, and gives speed bonuses while raging. These bonuses are doubled if you have Blue Dragon Descendant.
Fires of the Volcano: Improves heat damage, protection and spells, and gives damage bonuses while raging. These bonuses are doubled if you have Red Dragon Descendant.
Fumes of the Pit: Improves poison damage, protection and spells, and gives attack bonuses while raging. These bonuses are doubled if you have Black Dragon Descendant.
Winds of the Mind: Improves mental damage, protection and spells, and gives resistance bonuses while raging. These bonuses are doubled if you have Psychic Mastery, and if you have Psionics this power unlocks a range of psionic spells.