you'd controll it ok . they are rather ornery even at 120 120 but ... feed it a bunch you should be ok.
also why only 50 magery ? (gate with scrolls?) that would work i spose but if you run outa scrolls somewhere and have to walk those big lugs are slow as hell ...
if your gonna do alot of pvm maybe run bard ... peace and provoke are nice for wipin out spawn ... discord can cut down the big monsters to a workable level ... however.
if you want to stand a chance of defending yourself if you are caught without a pet , you might want to take that magery to 110 and beef up the meditate and eval . (like i do) then you can work as a mage to get yourself some considerable firepower.
pets are some really big guns and i do use them for most of my firepower , however , poeple do like to lead them away , then you are all by yourself . cant assimilate anyone like that without some mage secondary guns.
besides you cant count on the stupid dragon to defend you in pvp . its easily tricked into wandering aimlessly . they are strong as hell , but slow as a stump and only as smart as uo pet ai (see stump again)
you could go with the stealth tamer template that everyone loves to hate , but they screwed over that template with the petball changes ... (not much point in the suprise attack if theres no suprise)
could go archery ... once you set the pet on something you sit back and plink arrows into it too . nice extra damage...
oh also see if you can work in chivalry at least 50 so you can remove curse . it really stinks havin your pet get mortaled and theres nothin you can do but stand there and watch it die.