I'm not sure if everyone else has this experience or not, but I find that the Dreadlords event can be a little disappointing. I find usually that they just hunker down near their home planet and don't venture out too much. They don't send out transports either to conquer other worlds, from what I've seen (unlike previous versions).
In my view, the Dreadlords should be a more dangerous challenge. I think they could be a good cataclysmic mid to lower-late game event that can potentially be a threat to everyone if left to fester and grow. Any chance of improvements in this area?