The Robbie Fowler show was upstaged by an unlikely source as Preston's Callum Davidson snatched a stunning last-gasp point.
Davidson and Fowler both scored braces as Paul Simpson's men battled back twice to earn their late draw.
Davidson hadn't scored for 16 months, but you would never have known it judging by two breathtaking, long-distance strikes - the second in injury-time.
They took the gloss off Fowler's double - the former England man showing he still has the class that made him a Premier League legend in a Liverpool shirt.
But it was the veteran status of Fowler and strike-partner Jimmy Floyd Hasselbaink that City boss Dave Jones was referring to when he bemoaned the loss of two points.
Jones said: "I'm pleased for Robbie but we should have scored more and put the game away. That's the way it's going for us at the moment.
"Our main problem is our passing.
We're not delivering the right quality of ball to our strikers. We don't have runners and chasers up front in our team."
Preston manager Simpson paid tribute to Davidson's performance.
"Callum hit two absolutely superb strikes," he said.
"He's got great technique, but he doesn't often pop up with a goal.
"We'd practised the free-kick and because he'd already scored one, I wasn't expecting another.
"But we've worked on that free-kick in training and I'm happy that we've got our rewards.
"I thought we deserved something from the game because we played well.
We conceded a sloppy goal from a set piece which we need to improve on.
"It's a big point for us and we need to build on this."
North End had started brightly and after four minutes striker Paul Gallagher fired a rasping drive over Michael Oakes's crossbar.
But the hosts hit back two minutes later with a chance of their own when Roger Johnson saw his powerful header from Paul Parry's corner cleared by hero Davidson.
Preston were under the cosh and within a minute Cardiff should have taken the lead, but Joe Ledley was denied when his header from Parry's cross produced a fantastic reflex save by Andy Lonergan.
But then came Fowler's chance to roll back the years with his first goal in Cardiff colours.
From Ledley's 28th-minute cross, Fowler got ahead of Youl Mawene to power a header past Lonergan.
Davidson levelled for Preston when he expertly volleyed home from the edge of the box - before Fowler rose highest to meet Ledley's corner to score the 226th goal of his career.
Ledley should have increased Cardiff's lead but failed to keep his header down from Chris Gunter's cross.
Hasselbaink had a well-driven shot palmed away by Lonergan. And Jones was left agitated to see his side waste more chances in front of goal.
Fowler thought the points were in the bag when he was replaced on 81 minutes to a rapturous standing ovation from the 11,772 crowd.
But Davidson had other ideas as his 25-yard rasping drive beat the dive of goalkeeper Oakes.
It was a depressing way for Cardiff to miss out on their first home victory of the season, particularly as Roger Johnson was carted off on a stretcher straight after Davidson's late strike.
Cardiff: Oakes 7 - Sinclair 7 (Whittingham, 75mins, 7), McNaughton 7, Johnson 6, Capaldi 6 - Parry 5 (Gunter, 46mins, 7), Rae 7, McPhail 6, Ledley 8 - Hasselbaink 7, *FOWLER 9 (Thompson, 81mins).
Preston: Lonergan 7 - Jones 6, Chilvers 7, Mawene 7, Hill 7 (L Neal, 76mins) - Sedgwick 7, Nicholls 6, Carter 8, *DAVIDSON 8 - Gallagher 7 (Mellor, 67mins, 7), Agyemang 6 (Hawley, 57mins, 6). Ref: A Hall 7.
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