Interesting bit of discussion on the GBHL facebook group about the rangers list, specifically the Rangers of the North list vs the Grey Company legendary legion.
The consensus seems to be the Rangers list is probably. Getting a horse for Aragorn, getting individual deployments per Ranger can also be pretty huge tactical advantage in some scenarios.
It also allows you to ally into some other lists, The Shire maybe most importantly. A lot of people suggested Taking farmer Maggot to use the hounds as objective holders
Kinda silly but maybe worth looking at. It also gives you an option to take Gandalf, which could always be a useful option at higher points values if nothing else.
You miss out on Anduril for free of course but you might be able to squeeze it anyway since its cheaper now then it used to be anyways.
600 points
You can take Aragorn, cloak, bow and horse
10 rangers
Halbarad, horse and banner
And Farmer Maggot, Grip, Fang and Wolf
16 might, 11 bows, 16 models
Not sure how competitive it really is but I imagine if you play some games you could do well enough. You at least are better at some scenarios that armies with low model count would normally be bad at like recon and domination since you can deploy so much better and use the dogs to run of. Still struggle to play recon against alot of mounted models but meh, all in all not too bad.