I give up deciding! I want a new army to go with the Hobbit, but I simply can't decide. I've narrowed it down to:

The Army of Thror- An army list to represent the Dwarves during the war of Dwarves and Orcs

Azog's Hunters, with Goblin-Town allies- I've really come to like the design of the Hunter Orcs, and they'd be a welcome change of pace from my usual play-style
or
Rivendell- An army made up of Rivendell Knights and High Elf Warriors, led by Elrond.

So, which one would you recommend, what tactics would you use, et cetera. Basically, sell me one of the ideas that you like the most. Thanks in advance!

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We will seize this chance to TAKE BACK EREBOR!

Rivendell.
there is a thread on tactics here: kb.php?a=215
The principals are the same, but that was written before the warband rules were introduced
Rivendell have most of the best heroes middle earth has to offer, though they do come at a price. The same can be said about the infantry, undoubtedly the best all round in the game, but they're expensive, so you'll always be outnumbered (unless in an unusual situation, such as a 400pts match where your opponent fields a balrog).

I've never lost with them, as they have the best all round archery in the game and a line of elves backed up with spears will be enough to kill a troll (if a troll can get that far and dodge all of the arrows you fire at him)

However, at the moment, Rivendell are best allied with the wood elves, as I find the galadhrim knights and wood elf sentinels very useful

Hope this helps,
LordElrond

I think this should be opened by asking a couple questions: Do you plan on allying? How large of games are you planning on playing?

The two good factions you listed have their own strengths and weaknesses. For instance Thror's Dwarfs have no bows, Rivendell Knights are expensive and will thus have small numbers making it hard to set up a good charge but I think the Elrond and Lindir combo might help to offset that.

As for Azog's Hunters they seem to be the most rounded of the new groups as the lack of spears is offset with the many blades rule.