The only spells effected by magery are mind blast, poison, poison field, heals and cures. I know my dragons use poison, heals, and cures alot but does it realy help to have uber magery? I am not seeing anything to suggest that higher level magery is worth anything when hunting anything lower than boss level monsters. For example GH is magery*.4+1 to 10, so at 105 the heal rate is 43-52 and at 120 49-58. Does it help much when fighting the sphynx, probably not. On the other hand will it help aginst the Dark Father, I would think some. As an overall IMO I would sacrifice magery on the new dragons for anything else.