Man, the random encounters are amazing. Stumbled across a giant, which at my level isn't really a problem except that Lydia rushed in and got hit hard. I didn't see the full result, as I followed her in and beat down the giant. Then, I go wandering around the area looking for Lydia, when all of a sudden WHOMP she lands beside me, must have been wayyyyyyy up high in the air off the end of that giant's club. Reload the game, go to same area, no giant.
Had another one much earlier where I was scouting a camp, dragon was swooping down, and attacking a giant in the camp. Now, I was very low level, and didn't really want to solo either one of them, so I thought 'OK I'll let them beat each other down and go finish off the winner'. Thinking I was somewhat more scared of the giant, I rushed in and gave him a mighty swipe with my twig. He didn't even look at me. I backed off, the giant killed the dragon, I see the giant has about 25% health left, I figger 'aww yaaa I can do this'. Rush in, take a big cut, don't kill him, start backpedalling then whoops look ma, I can flyyyyyyyyyWHUMP. Reload the game, no giant, and the dragon cleared out all the bandits in the yard.