First Look: I thought this was an excellent figure when I first saw it; it's a very clean cast, has a fairly unique look and pose, and is a great option for anyone new to painting dragons. The dragon just barely fits on Reaper's new 3-inch bases, as well.
Painting: The entire figure was painted silver (VGC Chainmail Silver), given a black wash (MSP Black Wash) for shading, and then selectively highlighted in a brighter silver (VGC Silver). The wings were painted a medium gray (VGC Cold Gray, MSP Black Wash), as they weren't scaled and I didn't think they would look right with a metallic color. The horns, teeth, and claws were painted gray (VGC Cold Grey, Wolf Grey, MSP Black Wash) to make them stand out a bit more. Finally, the base is a simple medium brown (VGC Earth, AP Strong Tone Ink).
Conclusion: I think the metallic silver worked really well on this figure. From what I recall, silver dragons essentially act as "knights in shining armor", so I wanted to give him a bit of shine. I also like the choice of grey on the wings, as it looks very reasonable to what the dragon's actual skin color might be.