Hey there - I came up against this list in a recent game that I had, and it demolished my WoC army. The guy playing it was pretty cool, and gave me his Armybuilder sheet after the match, so I could take a look at his handiwork. I assume this means that he's alright with me sharing his list with a wider audience, as he says that he doesn't use this army in any actual tournaments (although I really don't see why not). Anyways, here's the army and some notes on how he used it.
Empire Grand Master - 259
w/ Shield, Glittering Scales, Ogre Blade
Wizard Lord (Lv4, Metal) – 285
w/ Book of Ashur, Opal Amulet
Captain of the Empire (BSBearer) – 193
Imperial Pegasus (Iron hard hooves), Full Plate, Shield, White Cloak of UlricWarrior Priest – 123I'll point out now that there's some dispute as to legal base-sizes for an Imperial Pegasus. The only Peg model the Empire has, is Balthasar Gelt on a 40mm base. The Dark Elf peg is a 50mm base (which he used for the conversion). We played at a GW store, and even when questioned, they were fine with the 50mm base, since "that's what the DE Peg came with."
Barded Warhorse, Heavy Armor, Greatweapon, Crown of Command
13 Inner Circle Knights - 395
Full Command, Lichebone Pennant
12 Archers – 104
Musician, Standard Bearer
10 Outriders – 230
10 Outriders – 230
The Grandmaster, BSB, and the Priest all go into the Knights, who are fielded 6-wide. The 50mm base on the BSB lets him displace 2 models, the Grandmaster displaces 1, and the Command pushes the Priest into the back rank. The deployment for the front rank was
Meaning that the maximum number of models would be in contact with the BSB and his White Cloak's -1 To Hit, and the Grand Master would benefit nicely from most of his foes needing a 6+ to hit him.
The "Knight Bus" has a 6+ Ward against Magic, plus Hatred from the Priest (Knights only), Immune to Psychology, Stubborn, and Hold the Line. They also benefit from the Priest's prayers, which can include rerolls to Wound, a 5+ Wardsave, or Flaming Attacks.
The Wizard joins the Archers, and generally hangs around behind the army. The infinite free-reforms with the skirmishers means that he's virtually moving around solo when it comes to line of sight and such. The -1 to Hit with ranged is good, especially when they're sheltered behind the gunners for an additional -2 for Cover.
The Outriders are obviously there for the fact that they're a better shooting option than anything in Core, getting triple the shots of Handgunners with the same accuracy and a 4+ save.
Dual Stanks is obviously nasty enough.
The only thing that I might change would be upgrading the Handgunners to Crossbowmen, for the extra range.
Blood and Glory is the scariest mission type for this army, and it's the one that we played. However, it's worth pointing out that the enemy is forced to go after the Knight-bus, and either kill the General or the BSB and whole unit. It's the only way that they'll win, and believe me when I tell you from experience that it is very hard to do. I was only able to have a shot at success, when I used Doom and Darkness on him. When it didn't work, he quickly beat me into a pulp.