Dragon is some good XP, but great loot, including Dragon Scales which can be made into some gooooood leather-type armor.
I imagine the dragon will still be there... it took me a couple tries (and cries of frustration) to beat him, but the proper combination of summons, defensive magics works wonders. Of course, so does a couple "reduce resistances" and a feeblemind. The dragon is a lot less imposing when you've rendered it inert.
Good luck and happy fighting!
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