You're not looking hard enough
Think of it this way, with a ECL of +3 the character starts in a party of 4th level chars, a fourth level fighter with 14 con has from 21 (min) to 48 (max) hp.
Even a wizard with con of 10 has at least 7 hp, and that's with rolling all 1's. The 1/2 dragon at first lvl, even a barb w/ 20 in con can only have a total of 17 hp. He also has no more than +3 or 4 in saves.
Not to mention almost no spells, abilities, ability score increases, max of 2 feats, and 5000exp till lvl 2!!! I think it's very balanced, that's allot that a character has to give up just to be a 1/2 dragon.
And wings only come with large size, to be a large size race you have to be atleast another ECL of +1, usually more.
Thank you and good night.