Decent does not cut it today, Shadoweyed.
Is there any army out there, against which the GoE is a better or equal choice, compared to the Arch Lector? Hmm... maybe dwarfs, but I donīt know.
That he is cheap is no real bonus, cause what can you get for those extra points? A few more men?
What is needed today is magic defence and maybe offense. What is needed is something that boost the troops.
The ability to hand out a 50 point banner used to be that, but since those banners are rather useless, bar that MR2 one and that will most likely end up with some knights anyway. Ah... yes. Of course, the best of the best, the War banner. Silly me...
It does not cut. If you take the GoE, you plan for a fluffy list that will also be soft. Sure, you can add mages and priest for the rest of the slots, but that means you will not have a BSB that can help with holding the troops in place. And with the BSB, you magic defence will be medium at best. Could be done with Priest and mage, or two mages, but it would be a scroll caddie+Rod of Power defence. Workable, but that means no priests, and their hatred is so good for our lads.
At 3000 points, well, a GoE can come in as second in command, but at the normal levels, he is only there for fun, and when the going gets tough, the Arch lector or the Wizard lords will have to ask him to step aside and leave room for the real warriors.
And I agree with Shadowlord. 1 Greatsword as core + Griffon banner at 50 points, and he is back in buisness again, as an interesting choice. As for now, he is only amusing, and more useful than engineers...