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Can you analyze and evaluate this army for its viability. Is it a potent army?
Is this a take on all comers army list.

This is a fast and manueverable army meant to be a take on all comers. It is a fragile list meant to selected in its attacks by taking on fractions of the enemy's army at a time. The Falcons at the enemy's deployment zone, the Harlies approach from the front and counter attack after the units are tied up. This army is built with the 5th edition in mind according to the LOS rules.


HQ
1.Yriel

Elite
2.Fire Dragons (6): Exarch, heavy flamer, crackshot
3.Fire Dragons (5)
4.Harlequins: Shadowseer, Troupe Master, 9 Kisses

Troops
5.Jetbike unit (4): shuriken cannon, warlock, destructer, jetbike, singing spear
6.Jetbike unit (4): shuriken cannon, warlock, destructer, jetbike, singing spear
7.Jetbike unit (4): shuriken cannon, warlock, destructer, jetbike, singing spear

Fast Attack
8.Warp Spiders (8): Exarch, spinneret rifle, withdraw, powerblades
9Vyper (1): twin shuriken cannon

Heavy Support
10.Fire Prism: Holofields, Spirit Stones, Vectored Engines
11.Falcon: Holofields, Spirit Stones, Vectored Engines, Shuriken Cannon
12.Falcon: Holofields, Spirit Stones, Vectored Engines, Shuriken Cannon

In a tournament you might expect a lot of psykers these days (Librarians and DPs/Sorcerers).
Therefore, I'd replace Yriel with a Farseer on jetbike, runes of warding, spear, doom.
A single Fire Prism is more a one hit wonder, hit or miss, even with BS 4.
Give the Falcons additional shuricannons.
The rest looks good.

I know one Fire Prism is a one hit wonder, but I could not pass up on the chance to kill 4+ save model with a large blast S5 AP4 weapon against things like lootas, shokk attack mekboys, fire warriors, and aspect warriors in one shot. Against MEQ it becomes a anti-tank, small blast terminator killer (I have made a mess of deep striking terminators a few times with these guys. I comes in valuable against GEQ armies a great deal, only a harrasser and VP deniel item against MEQ.