Focus on getting skills to improve your dragon in the Might tree, and try to get distortion magic + Transmute from the magic tree. Mind is a little more of a toss up, but you'll eventually want max prayer, and possibly diplomacy and/or voice of the dragon.
Early game, get a few items for more leadership, but later on focus on items that increase your crit percentage, and damage dealt.
When you upgrade your pet, don't upgrade a skill to the point you can't use it. Also keep getting bonus' to rage where you can.
Time of day is mostly unimportant, though a few creatures/abilities are better during nighttime. Trolls, for instance, have slightly different abilities during day or night.
The total time it takes you to complete the game will reflect on your final score, that is the only use for time (travel time is most of the time you spend in the game).
Hope that helps.
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