When Davakiin kills a dragons and absorbs its soul, from what I've seen, it leaves the body unlootable. Just a pile of bones resting on the countryside. My question is: Do you think that despite the fleshless appearence of the deceased dragon, will you still be able to loot it? And if so, what kind of things do you think would be found on their bodies.

Apparently their scales are used as a powerful alchemic ingredient.
http://www.uesp.net/wiki/Lore:Dragons

I thought it was confirmed you can harvest the bones from them, hence the Dragon Bone armor

I honestly think that... You will have to options... Taking it soul or right before it gets killed you use soul trap...