Looking to build up an army of good heroes, mainly Elves, as my main force atm is Harad and I would like a good army that is easy to expand and play around with.

Good heroes I currently own:
Gil-galad Mounted conversion and on foot
Radagast on foot
Aragorn, Legolas and Gimli on foot
Thorin's ccompany, minus thorin, bilbo and gandalf, on foot

At 500 points is it worth allying in a wizard for an all hero list?

Also how's this for 500 pts
Gil-galad on armoured horse with shield
Twins with Heavy armour, bows and horses
Glorfindel with armour of gondolin and horse

or swap glorfindel and the twin's bows for saruman the white on horse?

All hero lists need to deal damage and quick. Often at small points levels, wizards will generally be a hindrance as your combat effectiveness is reduced. Models in an all hero list need to be able to withstand being surrounded if they die and wizards are generally squishy.

That being said, Radagast on Eagle is a viable option now for all hero lists. Limited magic but access to BPA is nothing to be sniffed at.

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