The big draw of the new EA is obviously the massive +4 or 5 or so to all DCs over draconic. In exchange, you're down +3 MCL and down spell pentration. Dragon breath/vortex vs. divine wrath/sunbolt seems like a wash, probably slightly favoring EA. Shadows upon you is a decent DPS boost against bosses. It seems like exalted angel is now going to give draconic a run for its money. Also, you get 200% wings, which is amazing. Here's a theorycraft build I came up with.
18 sorc/2 FvS Bladeforged
1: Maximize
1: Empower
3: Spell focus: Enchantment
6: Quicken
9: Spell focus: evocation
12: Heighten
15: Completionist
18: Past life: Wizard
21: mental toughness
24: improved mental toughness
26: Epic Skill Focus: Spellcraft
27: epic mental toughness
28: Epic Spellpower: Fire
Epic destiny: Exalted Angel
Charisma x4 (8)
Radiant power 3
healing power 1
Endless faith 1
Soundburst 3
Shadows upon you 2
leap of faith 2
sunbolt 2
divine wrath 2
twists: energy burst, empyrean magic, magister enchantment, whatever
Enhancements (roughly):
Five points left over