Ordinary potting medium (soil-less) would be fine. If you have anything like bark fines around, they could be added for extra coarseness. I'd suggest perlite, but dracaena tends to dislike perlite in large amounts.

You want a planting medium that is very fast draining and coarse textured. Avoid anything with added fertilizers or water-absorbing polymers.

Might I ask, out of curiosity, what is wrong with perlite? I have a lucky bamboo project planned (for months from now I'm sure). It would just be one small pot-inside-a-vase setup, so I was hoping to avoid buying too many things I do not already have, or at least such things I would have to buy in large quantities. Perlite seemed to fit the fast-draining and coarse-textured criteria... too much dust? allergies? =P
And, in case I do not find any one-pound bags of bark fines or other suitable medium... if forced to choose between plain water, marbles/gravel with water, or regular ol' potting soil, which would you pick?

I should have explained about the perlite. It's a product that I use a great deal for a wide variety of planting and propagation purposes.

However, it tends to have a fairly large amount of natural fluoride in it, which is released into the soil. Fluoride is something that many kinds of Dracaena (and other containerized plants) have some trouble with. Leaf lesions (tips and edges) is the usual result of exposure to large amounts of fluoride in the soil. Remember, it's also in the water supply so the poor plants have a double whammy.

Which would I pick as far as a growing medium? Well, I don't grow this Dracaena to display as 'Lucky Bamboo', so I would always opt for what the plant would like best....a fast draining potting medium. You can add some aquarium gravel (not colored) in lieu of bark fines or Turface or perlite. It's available in small bags anywhere fish tank supplies are sold.

But the decision is really up to you and what you want your plants to look like. The 'lucky bamboo' style of growing these Dracaenas is very popular.

Wow, I did not know that about perlite. (Not that I know anything about perlite, really.) Not that it would be worth doing, but if you soaked it for a long time, would some of that leach out? I had heard that the Dracaenas were sensitive to various chemicals, I might have to get some bottled water.
I'll probably let it do its own thing, I like the "lucky bamboo" and the "ribbon plant" looks just fine. I had thought about aquarium gravel, as I know I can get my hands on that with no problem. I'll keep looking around and see what else I find.
Thanks for all the expertise!

No, to the soaking of perlite. Fluoride is a native constituent of the product, and it will continue to release (in amounts) into the soil, probably for the life of the substance.

I believe that most people do fine using their regular water, perhaps leave it out so that the chlorine will dissipate (fluoride won't leave the water). As long as your mix is a fast draining one, and you can leach salts out occasionally, you should be fine.

Vermiculite won't work, by the way, if you were going to ask. ;-) It loses it's physical structure almost immediately.