Unless you're interested in hunting fire drakes, there are only two reasons to visit the Fire Drake Breeding Grounds, and they're both quests -- one for the House of the Dragon, and one for the Celestial Order. In both cases your best bet is to run through the area as quickly as possible, dodging the fire attacks of the drakes. As long as you keep moving, the drakes will probably miss you.
1 - Altar of the Diamond Light
The altar is involved in a quest from the Celestial Order.
2 - Nest
The three southern nests all contains Dragon Eggs. You'll need an egg for the House of the Dragon quest (in Fargrove).
3 - Treasure Chest / L'Cuda's Shack (Collector's Edition)
If you're playing a regular version of Dungeon Lords, then you'll find a treasure chest here. If you're playing the Collector's Edition, then you'll find L'Cuda's shack here. The shack is involved in a quest from Erlinmir in the Elven Lands.