Well, depends what you use it for. Aerial recon is imo the only thing that you can use it for anymore. Before you could do Ninja strikes at castles, **** that was fun. Wish that some of the fun of C3 was still around ^^
Aerial Recon isn't even that useful, since the clipping plane is so short. Using it to spy on people is kinda pointless, since you're right over their heads on a giant flying lizard... it's not like they don't know you're spying on them.
You cannot fight ON them, and you cannot efficiently fight with them.
They are, at best, a form of alternate transportation.
My dwarves would disagree with that.
Wind = OK melee, Star = Mage and Twilight = weak. (After the last round of changes NC made to the pets.)
For the most part, you treat the hatchling like a wolf/summon. You will need to tank for it as even on the Wind their defense is much less than yours. (Star plays a bit differently, being a mage type, but the general rule is the same.) Since hatchling damage is lower than yours, it's a good idea if the hatchling is higher level than you or the mobs you fight. (AKA level it with a lower level alt if possible.)
Just as long as the hatch does less than 1/2 damage to the mob your good. Once you get the hatchling to 55, you can do another quest to turn it into a strider. (ridable) A strider has pretty much the same stats as the hatchling. (Almost identical) But their equipment costs x2 what the hatchlings does. You can swap certain gear between hatchling and strider at a cost but not all items are swappable.
When unmounted the strider works exactly like a hatchling. It does gain a new shortcut that you can use though, to mount it.
When you mount a strider, your weapon (and shield) are unequipped. You can still cast spells, but you do not get the benefit of your main gear. (I don't have strider armor/weapon yet so can't comment on that.) You can still attack in melee, although it is the strider that attacks and not yourself. (While mounted.) When you dismount, your weapon/shield is NOT automatically re-equipped, so you need to do that manually.
Using it to spy on people is kinda pointless, since you're right over their heads on a giant flying lizard... it's not like they don't know you're spying on them.
*Looks up*
*O.o*
*Is that supermans mom, a chopper or a big noicy spying dragon above my head?*
-Hey! You're scaring the mobs away with that "flob-flob-flob-flob" noice you are making...be gone you evil you :D