Free company, by my rekoning, are an equivalent to Bretonnian men at arms. If they are a militia equivalent, which by all standings, were not usually as well trained or disciplined as regular soldiers (historically speaking), then I don't see why Free Company should not be M4 WS2 BS3 S3 T3 I3 W1 A1 LD6 and coming in at around 4pts per model.
A special rule could be that if they are used as a detachment, the Free Company unit may use the parent units LD (therefore making them LD7). Also, I would like to see some more weapons options for Free Company, such as the unit counts as being armed with Halberds, or with additional close combat weapons, which must be chosen for the unit when the army list is created. This also creates some more variation in the Empire list.
As for Pikemen, I believe these would be a handy addition to the Empire list and a replacement to the utterly obsolete spearmen. Pikes, without being too overpowered, could possibly have the following rules. Stat wise, M4 WS3 BS3 S3 T3 W1 I3 A1 LD7, light armour = 6pts per model.
Phalanx - Fight in four ranks if charged, and two ranks when charging. ASF in the first round of combat. These rules, of course, only take place to combats in the front arc of the unit and are negated if the unit is Disrupted.
Cause Fear - In cavalry and chariots. This is a good representation of the horses shying away from the charge when faced with a wall of spikey pikes. If the test is failed, they become WS1, therefore greatly hindering their combat ability.