Actually Sed, I really disagree here. True, the dragons in reign of fire were wonderful, but they didn't look intellectual at all.I think a style along the lines of Reign of Fire (IMO best dragon depiction to film ever) would be a good footing.
I think they should make Smaug slender and long, almost worm like, sort of like a typical Norse dragon (no, not because I'm Norwegian) with a slender head, but now quite like Howe's paintings.
Sort of like this, but without the giant lower-jaw: http://www.games-workshop.com/gws/catal ... prod790846
That's an old miniature, so it suffers from the typical "classic look" some GW miniatures have, but you get the idea.
But I think the part of Smaug they should work the most at, is his eyes. They really need to look right.
As for the two new dwarves... YES! YES! YES! Finally we get another air of good looking dwarves. I especially love the big guy and his hammer.