I think the best way of defining army lists (and what is included under each banner) would be to simply use the tools GW gave us - Legons of Middle Earth.

Rate armies based on the parent list alone, not their allies. That way, a player can choose their core list and then look at the ratings on the ally lists to see which areas they would like to improve.

the shire

outfight 2 (f3 shirrifs)
outshoot 4 (hobbit archers cheap and hit on 3+)
outnumber 3 ( low points but only lots of hobbits if you have lots of money)
outmanouvre 1 (move 4" and only a few ponies to speed up the heroes)
outlast 2 (ok courage but poor defence will get your army murdered)

just an idea

Outfight - 2 !!! That should so definetly be a 1, Hobbits are the worst fighters in the game! Always, we're not taking into account money, etc., so that should be an Outnumber - 5.