Submitted slightly modified army list for RUNEFANG III this morning, as I didn't quite like set up on one I submitted yesterday. Its basically whats in the picture minus a few SM bodies and the Noble on foot.
Archmage Lvl 4
w. Folraiths Robe, Amulet of Fire, Silver Wand, Dispell Scroll
Immune to all non-magical attacks and all magical flaming attacks. Has 5 spells and 4+D3 PD from Banner of Sorcery. Considered Staff of Solidity to protect against miscast but decided against it.
Mage Lvl 2
w. Seerstaff, Dispell Scroll
Seerstaff allows me to choose his spells and Banner of Sorcery means I can ensure I can spam Drain Magic against the magic heavy armies.
w. Barded Steed, GW, Dragon Armour, Shield, Helm of Fortune, Guardian Phoenix
Defensive set up with 1+ rerollable AS and 5+WS. Only hitting at S5 with GW but thats reasonable. Considered Battle Banner but at 80pts it would mean dropping something else and you need a combat character that can survive.
w. FC, Lion Standard
Considered two units of these but went with one instead. Lion Standard makes them IFT.
White Lions x15
w. FC, Banner of Sorcery
Basically the Archmage/mage bunker. Putting Banner of Sorcery here means I can hide them in a forest and protect it before jumping them out later.
Phoenix Guard x18
w. FC, War Banner
Just love this unit. War Banner is necessary though as at S4 they aren't going to kill anything. Also a great mage bunker.
w. Musician, Bladelord, Talisman of Loec
No Standard as it cost too much and it gives pts to your opponent. Talisman of Loec is a nasty surprise allowing you to re-roll all missed hits and failed wounds once. You have to use it carefully though as it also kills the Champion carrying it.
Total 2,250pts 8+D3 PD 5 DD + 2 scrolls
Other options considered (besides 2nd unit of Spears) was a unit of bare DP's, and another cheap combat noble. But this is a reasonably focused army build. Swordmasters will require careful deployment due to vulnerability to missile fire but that is what High Magic and the Ward Save spell is for. Comp wise I might get pinged for BoS but don't really care that much.