I've seen a good number of Pressure Pokemon running CM/Sleep Talk, to counter Cresselia. Raikou and Spiritomb to be specific. Entei is really the only other Pokemon aside from those two that could pull it off, unless you really like your odds with something like Defense Order Vespiquen.
An Alakazam with Taunt/Calm Mind and two attacks, can handle any Cresselia that runs Psychic/HP Fighting to deal with Darks. Generally, any Psychic can handle the set, so long as they avoid status.
Choice Band Drapion, in my opinion, is rather a waste. I would rather have Taunt/Sword Dance/Earthquake/Crunch. A +1 HP Fighting will be rolling 27-31%, given no SpA EVs on Cress (and neutral nature), and 4 HP/no SpDef EVs on Drapion.
The following calculations assume a Defensive +Nature, and 252 HP/252 Def EVs on Cress.
+2 Crunch will roll 64-75% with Jolly nature 252 Att EVs on Drapion without a boosting item. Adamant is 70-82%, and with Life Orb it's 90-107%. Expert Belt is 84.2% - 99.3%. If Cress chooses to run a speed, or special attack boosting nature then it stands no chance against any of the sets, as the weakest possible (Jolly with no boosting item) does 78.4% - 92.3%. And assuming they don't keep Cresselia in, having a +2 Drapion is pretty nice.
An interesting switch in to Cresselia is Uxie. The pixie has a few moves that will give Cresselia a headache. Against Calm Mind Cress, Uxie can use Imprison and Calm Mind up itself while Cress fails to do anything against it (if Uxie holds Thunder-Wave, Cress can't paralyze it either). Uxie also has Psych Up, as do many Psychics. Imprison can also be used by Mismagius and Spiritomb, but they generally need all four moveslots.
What about Punishment? On a Cresselia that got one CM, it's a 100BP Dark move. Best used by Absol, Houndoom and Skuntank (and maybe Primeape, if you're brave/suicidal). Who knows, it just might be useful against other stat-uppers as well.
The most powerful user, Absol needs Bold Cresselia to have two boost under its belt to get the OHKO. Even then, it's only 98.6% - 116.2% assuming Life Orb and Adamant nature. It's worth a move slot though, if you're in need for a revenge killer.