(( Hey Agrajag,
Okay a couple of quick thoughts.
1-A) For your Arch Lector, you already have a re-rollable LD of 9, since you have a BSB. You could save quite a few points, and drop the Crown of Command.
1-B) Armor of Meteoric Iron is expensive, and tends to sit at a YMMV, since it's Ward Save isn't terribly impressive. I use it, but I've also been moving towards using just heavy armor and a Dragon Hat to get a 4+ Armor Save 2+ Fire Save. You might be able to save some points, and downgrade to Heavy Armor.
1-C) Usually folks get the Arch Lector to get the War Altar. The Altar offers some impressive augments to your troops, and protects your Arch Lector pretty well.
2-A) For your Amber Wizard, you might want to consider up-leveling him to 4. Level 4 offers +4 to cast / dispel, and one more roll for spells. Empire wizards tend to be cheap, so having both two Lord choices makes us a bit spoiled.
2-A-1) I did notice you don't have a Level 1 or Level 2 wizard to be your Dispel Scroll carrier. Keep in mind that if you fail a dispel, that wizard cannot attempt to dispel again that turn. As such, most players have a pair of wizards… one big… one little. The big one gets most of the power / dispel dice, while the little guy offers some oddball spells and carries the Dispel Scroll (for that one enemy spell you have to counter.)
2-B) For me, the Griffon is a YMMV- monster, because it doesn't really have the staying power, for its size. In comparison, while a Necrosphynx cannot fly, it has Toughness 8, and a 5+ Armor Save. Our Griffon has to rely upon Toughness 5… which is wounded decently easily by missile fire.
2-B-1) For that matter, if you put your Amber wizard on a mount, you cannot use Transformation of Kadon at all. If you haven't checked it out, Transformation has the ability to make your Amber wizard freaking monstrous.
2-B-2) I did use a Griffon for my Elector Count for a while, as I have the old-style, smaller griffon from 5th edition… but after trying out the Pegasus, the Pegasus is just a better mount… which is kinda sad. If the Griffon was cheaper… or had "Armor Save 5+" or something it would be better… but the poor thing dies to racial slurs and angry insults.
2-C) I'd have to say magic weapons on our wizards is a waste. He only has 1 attack, and only a mediocre ability to hit with his one attack. Magic Weapons tend to be on Pegasus Captains, Arch Lectors, Elector Counts, and Grandmasters, where they start with multiple Attacks.
2-D) While I get it that you plan to use the Speculum on a suprize challenge, savvy players will see that a mile away, as you have to move your wizard into melee… something our wizards don't tend to survive terribly well. I'd suggest saving some points, and dropping the Speculum.
2-D-1) Not to mention that they can accept / give challenges with unit Champions too, and you Have to switch stats with the Speculum. This may actually make the wizard a worse fighter.
3-A) With how average our LD tends to be, it is recommended that you equip your BSB for protection, and not offense.
3-A-1) As such, I normally equip my BSB with Full Plate, Shield, Pistol, and Burial Shroud of Sigmar (Ulric's Cloak). This gives him a 3+ Armor Save / 5 + Ward save / 2+ Fire Save, and -1 to be hit in melee. It makes him decently survivable. And the pistol increases his threat radius to 12"… cause 1 wound with it, and the Pistol has paid for itself. You'd be suprized how many times your BSB can get some pot shots off with the Pistol… and at BS5, he's a pretty good shot with it.
3-A-2) The Griffon Banner really isn't worth it, mostly due to Steadfast, and most of your damage comes from chasing down fleeing units. It's too cost-prohibitive for its bonus. I would, instead, focus on keeping your BSB alive, so you get his ability to re-roll ALL leadership tests.
3-A-2-a) Though… if you want to go high-risk with your BSB, and get him the Magic Banner, usually the thoughts are banners like Razor or FLAMING BANNER OF FIREY FLAME… that way the magic banner helps everyone's attacks… the BSB's attacks… the heroes' attacks… the unit champion… the unit itself. You get a much better payout. But… if you get your BSB a magic weapon or magic banner, you do have to accept that it does greatly decrease his survivability on the battlefield.
4-A) Handgunners are one of the most sub-par units in our list, and make a horrible anvil unit. They can only move-or-fire, and our BS3 means we'll be hitting on 6s usually… 5s occasionally. If they try to stand-and-shoot, you stand a good chance of trying to hit on 6s or worse. Our usual anvil units are Swordsmen, who have decent survivability, and Halberds, as you can still cause a spot of damage with them.
4-A-1) Even with your super-sized unit of 50, you only get two ranks that can fire. Now, that means you can deploy your guys 25x2… but a number of your models are going to be outside that 45 degree firing arc. And, you can only target one enemy unit. There are usually several units that are worth targeting. So… basically you've paid for equipment they aren't using.
4-A-2) Detachments in 8th took quite a hit, and aren't really worth it. Why? Because your Parent unit really cannot support them. Savvy players will hit your Detachments, in an effort to get both the Detachment, and Parent to make panic tests… or to just plow through the Detachment into the Parent unit.
4-A-2-a) Also, with how wide your Handgunner unit might be, your Detachments are going to be flirting with being outside the 12" LD / BSB radius as well, meaning they'll be easier to Panic / Break test off the field.
4-B) Instead, I would combine your two Halberd units into one block of 50. That way, you can Steadfast formation (5x10) or Horde formation (10x5) as the opportunity presents itself.
4-B-1) Then, if you want to keep your Handgunners, just get small, 10-man, no-frills sized squads of them, and semi-forward deploy them 5x2. Remember, normally you deploy 20 - 24" away from your opponent, so, if you want your Handgunners to fire on the first turn, they need to be a bit forward deployed to do so. And, with multi-squads of Handgunners, you open the option of concentrating fire on one enemy unit, or splitting fire once you make an enemy unit combat ineffective. (If two of your Handgunner squads brutalize a unit, your next three can target something else.)
4-B-2) But, a better bet, would be to get Archer squads. They can move-and-fire and Skirmish. This means they can be more dynamic on the Battlefield, and scurry around, letting you take the initiative. If you move the Handgunners, they cannot fire at all, and you've wasted the points on their equipment. It is easy for an opponent to maneuver around the 45-degree firing arc, forcing you to move your move-or-fire unit. In contrast, you can always move the Archers and still shoot. Sure, you might not have an optimal target, but the Archers should always have something to shoot at. And, Archers gain Stubborn in woods too. And, they make pretty good Wizard Escort Units as well.
5) Your Special / Rare units seem pretty normal. Since you haven't played before, are you familiar with how our Fast Cav is meant to operate? How about how to actually use our cannons? Do you know what should be targets of priority for your cannons / pistoliers?
Anyway, just some quick thoughts. ))