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(I know this is not a pre-made list, but I am not sure where to go with this)

Well lads, I had an opportunity to purchase a Tau army at a spectacular price ($175).

The army includes:
1 Ethereal
4 fire warrior squads with full options
2 eight man pathfinder teams with 3 sniper rifles each
Shas'o commander with cyclic ion blaster and full retinue
2 three man crisis suit teams (one kitted for anti-armor the other for anti-personnel)
6 man stealth suit squad
3 piranhas
1 Skyray missile boat
3 hammerheads with 3 railgun turrets and 2 ion cannon turrets
3 Broadside suits
3 Devilfish
about 20 drones (mixture of the three types)
Codex.

I am an extreme 40K newb, and I am still learning what my new army even looks like. So, what I am asking from you guys, is how do you think this army will work, and what would you do with it?

1 Skyray missile boat

I didn't know the Tau used boats.

Take the Ethereal out of your army.

Read their rules closely....if your ethereal dies, pretty much your entire army has a good chance of running off the table. Focused firepower on an ethereal is an easy way to kill him, and that hurts badly.

*EDIT* And if you're new to 40k, do this - check out the first few pages here on the army list forums and read some of the other Tau army lists and suggestions that have been made along with why they were made. There's some good insight to be had.

You most likely will want to drop the three tau pathfinder with rail rifles for ones with carbines and marker light.