Recently I have been taking lists at 1500pts to prepare for my campaign in oct, and, according to the background of my army(set in the border princes) they only really use artillery to defend cities, and so naturally I haven't been taking any.
My lists so far have included WAAAAAAAAAY more models with the reduction in characters/magic items. So conversly I have been able to take my full compliment of missile armed troops.
The last game I had I took 20 archers in detachments/huntsmen roles, 20 crossbowmen in 2 units of 10 on each flank and a unit of 15 handgunners deployed centrally.
And while helblasters and other flashier war machines in our new rules do more damage per use, the fact that I am fielding 55 more models then before for only about 470pts is not too bad, especially when they are deployed correctly.
And now that I sort of realised the increased effect of having more models in 1500pts(last game I had 174 models in my army) I decided to drop all war machines all together and instead take more troops.
And while the tourney heavy armies seem to rely on helblasters for their damage potential and output, I have found that having multiple units of missile units really opens your options and puts pressure on the opponent from the turn, rather than squander the precious war machine fire...
So at the moment, while everyone will say warmachines are better, I say missile units are better than war machines...