Nightchilde-2: have you settled on an age for the Dragon yet?
If its not too late may I humbly suggest the following?
1.) Drop Imp Invis. Older dragons will know that this is useless versus vetern dragon hunters. Try Obscuring Mist or Cloudkills instead. The Dragon has Blindsight, the entire party should not; it will gain concealment in most cases and still be able to target the party.
2.) Limited Wish = the must have spell for high-level dragons.
3.) Slow = the next must have spell. The party will run out of Hastes before it (as a Sorcerer) runs out of Slows. With the pre3.5 rules the "Haste/Slow" round per round Mage Vs. Dragon duels in my campaign have served to eat up rounds of "mage does nothing" to no end.
4.) Snatch Bite + True Strike = can't beat it. The Rogue types, and yes with the senses that a dragon has it should recognize Rogues just like high level players do. Once the Rogue is Snatched (make sure its the round before it can breathe, or the round during if hasted) it breathes for no save for the poor Rogue.
5.) Dispel Magics = Ok. Dispel Good a Cleric spell (which Red dragons get access too) = BETTER! Target that Energy Immunity or Prot Fire on the Cleric and *poof* its gone. While its summoned creatures distract the party and its cloud-type spells confuse them, it makes a hasty Snatch-breathe snack of the cleric.
6.) Teleport. Re-dundant for a flyer? Nope, the dragon is a poor or clumsy flyer. The ability to get-away fast is invaluable.
7.) FireShield = cold version. C'mon, every Red in its right mind knows that "hunters" will try to throw Cold vs. it.
8.) Contingency (can be done through Limited Wish prior to any encounter) and Heal. Reds get cleric access, this should always be up as "When I drop to below 10% of my health." (which is correct role-playing as well since folks don't know their "true" hit points in that sense).
9.) Greater Planar Binding = Dragon summons Outsider X. Makes bargain = You get blood and souls to take back to your realm, and trinkets I don't want (rare, but could happen) in exchange for being my body-guard/assistant for the next year. This spell provides much needed side-tanks for dragons at a very cheap cost. Dragons are smart enough to make wise calls on this, and other beings are wise enough to know its good to have a dragon friend.
(aka Wurmy from old Dragon magazine)
10.) Use all of it's items. Magic items re-size to fit the wearer, including rings, cloaks, boots (on a dragon *shrug*), whatever it would find usefull and you deem is acceptable.
11.) Keep this in mind: Smaug was the weakest and dumbest of his kind. The other dragons were coniving, sneaky, deceptive, and the deadliest creatures (next to the Valar) in ME. Use Smaug tactics of "BURNINATOR" as a last ditch effort, and only if you want the PCs to win.
