In my secondary campaign on of my players is playing one. I like the class, I might like the class more than the player, probably because I see the total effect the class has.
Like the Bard, the larger the group, the more effective the class is. With strategic positioning the Dragon Shaman in my group has done 16 points of damage at 3rd level from the Aura that deals Energy Damage alone, before he takes his attack action.
Likewise being able to switch Auras as a free action, very well means he might deal the damage and then switch to the Vigor Aura on his round to stabilize a comrade, and still be able to make an attack. The Power Aura stacks with Inspire Courage from a Bard, so this group is often walking around w/ a +1/+2 damage at 3rd level, and possibly more if the Bard is twinking her Inspire Courage.
The Aura of Vigor should be self explanatory to most. Those that say that being able to make wands mitigates the healing power of the aura are missing the point. If you have a Dragon Shaman in your group, you can cut down on the cure wands, and spend the money on other types of wands/ items. Likewise the class also lets your cleric use their spell slots for other spells, as a good portion of healing after the battle will be complete.
My own group has no healer, but between a Dragon Shaman and Bard, and potions has been all right.
The Dragon Shaman also can perform quite a few different roles as well, skill wise, depending on the Totem Dragon. A Black Dragon Shaman could for example qualify for the Assassin PrC. Moreover the special abilities of the Dragon Shaman are fairly interesting. The one in my secondary campaign is a Green Dragon Shaman, and thus he has Water Breathing, pretty useful for a Savage Tide Campaign. At higher levels he will share that with the group. Even in medium armor this Dragon Shaman is pretty sneaky, due to the free Skill: Focus Move Silently feat.
The breath weapons are nice, especially when combined with the Metabreath Weapon Feats from Draconomicon. If you get yourself the Dragonblooded racial type the fun can really start.
Overall, a pretty good Front Line Character. The class seems worthy to take until the end, but is useful enough at any level to dip into.
2 Thumbs up.