... there's not really an awful lot of difference. Multilooting the dragon's cadaver would still give you a whole lot of high-level stuff at a very early stage in the unmodded game. I'm pretty sure that the developers knew this when they designed the game and put the dragon there.However, depending on how far you got with the original MM7, you may be missing something. The battle to clear The Pit with a Light Path party is one of the greatest fights in the whole Might & Magic canon, and if you haven't done this, I really do recommend that you give it a go before you switch to the modded game.
