Celebrim said:I thought that was one of the things that was fixed in the change from 3.0 to 3.5.
Don't forget that CRs are based off the assumption of a four person party with a cleric, a wizard, a fighter and a rogue. A shadow meeting such a four-person party of level 3 PCs would be rolled over with no PC really having a chance to die and after probably causing some Str damage to one, maybe two, PCs. That sounds just about right for what a CR 3 critter should be.wayne62682 said:I've noticed that most creatures seem to be under-CR'd, especially Undead. A lot of the really nasty Undead (Shadows, Bodaks, Entombers, etc.) have a rather low CR in my opinion compared to what they can do a party.
Agreed, multiple (good) melee attacks often indicate "high-end" creatures.shilsen said:And to answer the OP, dragons are definitely at the top end of their CR.

(Dungeons & Dragons)
Rulebook featuring "high magic" options, including a host of new spells.