Hollywood did make a great dragon movie. It was called Dragonheart. Also Dragonslayer. Both of these were great dragon movies. And so was How to Train Your Dragon.
Aside from those three though pretty much all other dragon movies are terrible. Reign of Fire was too bland and grey, with hardly any dragons in it, Dungeons and Dragons was one of the most amusingly awful movies ever made and Eragon just sucked.
Does The Hobbit count? The film's not finished yet but I have little doubt that it will be fantastic. There's a big difference between movies about dragons and movies that just have dragons in them, like Harry Potter and Beowulf for example, but Smaug plays a pretty significant role in the story of The Hobbit. He is after all the central element of the quest. I think it would be safe to say that Smaug is as essential to the plot as Vermithrax was in Dragonslayer, so it ought to count.
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