Empires solution for Swordsmasters has always been shooting (including magic) and impact hits (except for 8th Ed. where we could win trough sheer attrition - but let's not talk about 8th Ed.)
An Arch Lector on Waraltar used to be able to tank them really well with his T5 1+/4++ but those days are gone...
Swordsmasters are really good (as someone who used to play Dark Elves between 6th and 8th, comparing them to Executioners now in TOW just makes me groan), but they do only have 1 attack each, so even if you end up in combat with them, they aren't that unlikely to whiff.
I'd even dare say that
Demigryphs are a decent counter to them now as well; both the Demigryphs and the Swordmasters will be I7 if the Demigryphs charge, and this is an exchange the Swordmasters won't enjoy:
Swordsmasters deployed 7 wide is 8 attacks, 5,33 hits, 3,55 wounds, DGKs have a 2+ that becomes a 4+, leading to 1,78 (round up to 2 with Cleaving Blow) wounds at average.
Every retaliating DGK will inflict 0,416 wounds from the Knight (double from a Preceptor) and 1,25 from the demigryph, so;
A unit of 3 DGKs would inflict 4,99 (5) wounds on the Swordsmasters.
A unit of 4 DGKs including Preceptor would inflict 7,08 (7) wounds on the Swordsmasters.
So 4 DGK's /w FC charging into 21 Swordmasters /w FC are likely to not suffer a single casualty and will most likely win combat by ~4 (7 wounds vs 2 wounds and 1 rank - both have standard and close order). Unless they have a Prince and BSB nearby, they are likely to FBIGO at which point the above scenario plays out all over again if you chose to pursue.
This time one DGK will die (but it does get to attack) and once the dust settles and it's time for another breaktest, the Swordmasters have shrunk from 21 to 7, and the 4 DGK's have only shrunk from 4 to 3.
