He also played in an early version of the band Rough Cutt, which Ronnie James Dio had once produced and co-written songs for. He was featured in Hear 'n Aid - Stars project while still in Giuffria, alongside other players such as Adrian Smith and Dave Murray of Iron Maiden, Yngwie Malmsteen, Brad Gillis and others.
Craig Goldy temporarily left the group Dio for the third time in 2005 after suffering a hand injury on a tour through Russia. He was then replaced by former Dio guitarist Doug Aldrich for the duration of the tour, but has since returned to the fold. He also is currently the guest guitarist for the 2008 tour of hard rock band Budgie.