Got my Predaking tonight and to be honest I am a little disappointed. Unfortunately I felt every good point was balanced by a bad point and as a result feels like a figure derived of compromise.
That being said, first I will summarise the good, his colours are fantastic, vibrant contrasting black and orange looks amazing. Strong ratchet joints in the elbows, shoulders and knees are fantastic. Ball jointed wrists (though a little weak) and ankles are welcome additions allowing for good poseability. His dragon head gimmick is fun and the simultaneous illumination looks great.

Onto the bad, transformation, for a figure at this price point I was expecting the transformation to take more than 30 seconds. His wings though articulated aren't amazingly poseable and as Griffin stated have a tendency to fall off. Robot mode head looks odd, his chin needs more depth (like the voyager). Both modes feel compromised to allow for the other mode, with neither really pulling off a solid look.

In summary I still like this piece and I glad I bought it, but is it worth $69? No, unfortunately it is not, wait for a sale.