I'm testing this set with solid success (however it's not perfect) in UU, but I'm planning to try it in NU as I think it would be a better choice there. It's solid wall-breaking set and it surprises many opponents into thinking that this certain pokemon is mostly physical. And I always thought that this fella has some potential. Here it is:

Dragonair @ Life Orb
Ability: Shed Skin
EVs: 166 Atk / 92 Spe / 252 SpA
Nature: Mild
- Outrage
- Draco Meteor
- Fire Blast
- ExtremeSpeed / Surf / HP Ground
EVs are designed for UU play to be honest. 92 Speed allows you to outspeed minimum speed Milotic, the thing which you don't want to outspeed you. I strongly recommend Spikes support, as this set secure some OHKOes and 2OHKOes with SR or at least one set of Spikes. For example physically defensive Hariyama is OHKOed by Draco Meteor 100% of times with one set of Spikes (however Draco Meteor + ES easily takes care of Hariyama even without entry hazards) and Registeel is 2OHKOed by Fire Blast with one set of Spikes. Also combination of Draco Meteor and Outrage easily takes on any Spiritomb and Slowbro can't handle two Draco Meteor in a row. 252 SpA EVs for maximum possible power and the rest of EVs went to Attack to boost Outrage power. With those EVs Outrage easily 2OHKO Chansey (and that's the reason why Altaria is outclassed at this kind of set, she needs to run much more Atk Evs and thus lowering much more her speed), which would otherwise wall this all day long. Shed Skin is nice bonus, as Dragonair doesn't mind any status. Also with those EVs you may take in one shot for example Hitmonlee after CC defence drop with ExtremeSpeed. I added options of Surf, as Surf is the only reliable way to take care of Aggron and Regirock, which could give this set few troubles. I mentioned HP Ground for NU reason - without HP Ground Probopass and Bastiodon easily counters this set and with HP Ground it's not an issue anymore. Any comments, ideas ?