Dragon. Flyer. Can use dragon unarmed combat cards. This ally's breath weapon, a cone of cold, causes all magic items currently in the battle to break and be discarded.
Copyrights:
TSR
Wizards of the Coast
This ally can be very useful in some decks, but not the most powerful card ever created. Being a dragon and a flier, it fits well into decks of either theme, being the second highest level dragon ally (behind the Ancient Dracolich (81/NS)).
Granting the ability to play dragon UCC's is only matched by a few cards (including the Gauntlets of Combat (74/DR) and Dragonne (82/DR)). However, in most decks where this would be very useful have mostly dragon champions already (however, if the champion can't play them because of another card, it can be useful).
The best card to combo with it is a champion that is good for a dragon deck like Verminaard the Dragonmaster (42/DR) and then using the most powerful dragon UCC's, like Breath Weapon III (96/DR) or Tail Sweep (92/DR).
The White Dragon's last power (that of destroying magic items already in battle to be destroyed) can be very useful, but for the best impact, it should be saved for then end of a battle. That, in addition to it's level (a meaty +7), can often win a battle.
All in all, this is a good card for a theme deck, or one that uses a smattering of dragon cards to enable good combos.