Reiter
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The Ghost Dragon is the weakest creature of level 7 (well, it's debatable with the Hydra), Liches have 40 health, and they disappear before your eyes when you attack a castle, no matter how you defend it. If you don't have "Raise Dead," you can lose your only ranged units. So, in my opinion, they don't deserve respect.
If these Necromancers are nearby...
You are reasoning too simplistically, comrade ;) Ghost Dragons are very powerful creatures when it comes to killing Azure Dragons; their age becomes simply irreplaceable (only Wyverns can compete). Liches are the strongest ranged attackers of level 5; they have more HP than Fanatics, and their damage is also higher, and the Death Cloud is a great ability, unlike the Fireball of the Mages. And I almost never use Raise Dead – it's not very effective. Try raising several thousand skeletons :D