Warband 1
Dain Ironfoot, king of erebor
5 khazad guards
2 Iron hill Veteran warriors


Waarband 2
Múrin and Drár
6 Iron hill Veteran warriors with shield
4 dwarf rangers with dwarf longbow


Warband 3
Gimli, son of Gloin
5 Iron hill Veteran warriors with shield


total: 601pts

might: 12


Alternative using erebor and bet on numbers...

Warband 1
Captain of Erebor with shield
6 warriors of erebor with shield
6 warriors of erebor with spear


Warband 2
Captain of Erebor with shield
6 warriors of erebor with shield
6 warriors of erebor with spear

Warband 3
Grimhammer captain
8 warriors of erebor


Warband 4
Erebor Captain with shield
6 warriors or erebor


8 might


what you think?

If you're asking which list'd do better i'd have said the second one I guess, although the first has more killing power it's going to be heavily outnumbered by most forces where as the second one has more troops to run off to objectives etc without having to sacrifice too much power in the main battle.

The second list is cool, but could do with Thorin or Dwalin to lead, you can offset the points a bit by also taking Balin. I think the first list will fall apart to quickly.