It looks somewhere around tier 2.5 or high tier 3. It's stronger than a duskblade (note that Full Attack arcane channeling only applies a touch spell once to each target hit by it... so either you're splitting your attack against multiple weak enemies or its just touch spell + 2 to 3 attacks), but I've seen duskblades rated from as high as mid tier 3 to barely tier 3 so that might still just place it as high tier 3.

Would I allow it in a game I ran? If I was aiming at fairly high powered, then probably (because it is dragon flavored). If I wasn't? I'm used to players who run from negative optimization to moderate optimization. No real caster exploits, no playing tier 1s to their potential, and groups that a warblade is the most powerful party member by far in simply because you can't mess up a warblade. I wouldn't allow this with that kind of group because it is stronger out of the box than Core WotC (although an optimized caster laughs at them and wins, most people I know shouldn't play wizards... they always prepare the same spells and try and ban divination too).

Actually my biggest problem with it is the fluff... why tie in the Draconic Prophecies from Eberron? The lack of fluff is fine, I like it in fact, but why tie in the Draconic Prophecies.