Alright, here's an army I came up with because I'm really bored and tired of exams:

Throne Monk-87 pts
-Paragon's Shield
-Magestone Bracers
***Scalesworn Honorgaurd
riding Draconum Sky Dragon- 110 pts
* Magna Champion- 70 pts
Formation:
*Whelp Firecaster x2- 62 pts
** Feral Whelp- 29 pts (one with toughness and then weapon master).
-400 pts exactly
Domains: Magestone Strip Mine and either Darkness or Inferno, I haven't decided yet.

Alright, I have a nasty swarm killer in Throne Monk, two guys to take down a big unique (Magna and Scalesworn) and a formation that surges into double venom (I know formations cant surge together, but they would surge at the same time...). Half my army can soar, and Monk and Scalesworn are quick enough that soaring range shouldn't be a problem.
Throne Monk essentially can't be shot by wand figures unless they have pierce, and even then they have a 20 defense to contend with. Magestone Strip Mine is there to try to disrupt the magic attacks, and darkness/inferno is there because i don't have much range (2 firecasters), and that only decreases it by 2.

Well there's my army, any thoughts?

I'd suggest going with storm gale as opposed to darkness or inferno. Losing their range is not a big problem for your army. I like how you stayed with the theme instead of throwing in the EF dragon.

I'd suggest maybe changing the scalesworn to the * (higher damage and toughness). and upgrading the two firecasters to the **charging feral whelps.

Both are good ideas, but I'm going solely on what I have. I don't have those 2 stars, and I don't have storm glale. I picked the *** because of the higher defense. I have enough heavy hitters, and I want him to stick around for awhile. Thanks for the suggestions though. If I get any of those figures I'll be sure to try em out.

Keep the suggestions coming people. :D

any chance of getting a neph pike? :)

could you give us a list of what else you have drac wise and maybe relics to just so we can see what we can add/take out? also if you list the pts next to each figure that would help a lot. Thanks.

* Feral Whelps x2- 25 pts each
Pathis Arcana- 158
** Magna Champion- 80 pts
Hierophant- 145 pts.
Mystic Draconum- 80 pts
and I have all 3 honorguards- 34, 36, 38 pts.

Relics:
Forgebreaker-37 pts
Dragonplate- 34 pts
Blade of Shadows- 45
Solo Soulbinder-44
Threadcutter- 25
Decapitator- 31
Crystal Reaver-36
Paragon's Shield- 32

Not much Drac selection, but hey, they're hard to get.

what about something like this:
Throne Monk-87 pts
-Paragon's Shield
-Magestone Bracers
*Scalesworn Honorgaurd
riding Draconum Sky Dragon- 106 pts
* Magna Champion- 70 pts
**magna champion-80pts
*feral whelp-25
**feral whelp-29
total:397

Looks good. But the problem is thats 439 points... not 397.

Yeah. You forgot to add in the relic and item point costs. Sans the Throne Monk's bling, you're okay.

i like it! i might steal it and use a version with nepharia >:)