It looks like the team has decided to use the big, beefy style of dragon that seems to be common in western fantasy settings. The design that I have seen is also very reptilian, and feathers would look a bit strange with that design. With that said, I would like to see different types of dragons in the game (which I think Todd mentioned in one of the interviews). If there is more than one type of dragon, I would love to see a feathered variety that is more birdlike and swift.
I only see 2 legs and arm-wings.
I'm trading my eyes in for a newer model this weekend.