That's what I do in my Diminutive d20 rules (level limit 12). Only use the first 4 dragon age categories, the 4th is now called "Ancient". Bump the sizes up one place (which I believe should have been done in core 3E anyway).
Dragons are such munchkins! They've been benefitting from power creep ever since the earliest editions.
In the old days, a dragon was smaller than St. George's horse. Nowadays the dang things are bigger than Godzilla!
I suggest bringing dragons back down to size. I don't see the need for having dragons larger than the Andes mountain range. Just say that the biggest dragon in the world is somewhat bigger than an elephant (maybe it's like the size of two elephants standing end-to-end)... that's still totally enormous for a land animal and will terrify just about anything and anybody.
If you need your city-dwarfing kaiju (and you probably don't need one!) you can always break out the D&D-ified version of the hapless Tarrasque.