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Archmage-Level 4, Seerstaff of Saphery
300

Mage-Level 2, Ring of Fury
165

Mage-Level 2, Starwood Staff
175

Mage-Level 2, Jewel of Dusk
150

10 Archers
110

15 Spearmen-Full Command
165

18 White Lions-Full Command, Banner of Sorcery
350

9 Swordmasters-Full Command, Warbanner
185

4 Repeater Bolt Throwers
400

total: 2000

I assume that one of the characters is going to go into the unit of Swordmasters?

I don't play High Elves, but I do play against them. You have a serious lack of mobility in this list. The Bolt throwers are a headache for your opponent. With all four of your characters mages, you'll do well in the magic phase but get crushed in combat. The last game I played against High Elves, my opponent had a beefy character in a chariot with a great weapon who was stubborn. Eventualy, he was killed by my BSB in a challenge, but he held up a unit of Chaos Warriors for 2 turns. A great Eagle is a great addition to drop behind your opponent on Turn 1 to march block too.

You've got to remember your whole army is only toughness 3. Even though you'll always hit first, that's not a guarantee of scoring a wound.

Good luck.

Drop the command on your swordmasters, and down to 6 or 7 men. Use the remaining points to beef up your spearmen.

While this list has the potential to be devestating, it's extremely soft and won't take a lot to crush. You'll have to play it very smart.

Ok here's an update for you all, the points may not be perfect but if you see any mistakes let me know:

Prince
Star Lance
Dragon Armour
Shield
Barded Elven Steed
Vambraces of Defence
Total = 282 points

Mage
Level 2
Dispel Scroll
Jewel of the Dusk
Total = 170 points

Mage
Level 2
Dispel Scroll
Silver Wand
Power Stone
Total = 185 points

Noble
Dragon armour
The Gem of Courage
Sword of battle
Total = 123

20 Spearmen
Full command
Total = 205 points

10 Archers
Total = 110 points

14 White Lions of Chrace
Champion
Standard bearer
The Amulet of light
Banner of sorcery
Total = 299 points

7 Swordmasters
Total = 105

5 Dragon Princes of Caledor
Full command, Warbanner
Total = 220 points

Repeater bolt thrower x3
Total = 300 points

Over all total = 1999 points

Basically the Prince goes with the Dragon Princes, the Noble goes with the White Lions, Mage 1 goes with the Spearmen, and Mage 2 goes with the Archers. Let me know what you think!

Prince - I would consider dropping this guy down to a Noble unless you're absolutely set on taking the Star Lance. Princes are roughly 2x the price of a noble for only ~1.5x improvement in ability. Save the points for other things. This could save enough points for a second unit of Swordmasters.

Mages - No major comments.

Noble - Sword of might >>> Sword of Battle. Having that +1S and extra -1 to enemy armor saves is much better than an extra attack. However, if this guy's on foot, just give him a Great Weapon instead (and Armor of Caledor if you want decent defense for a on-foot hero). If this guy is going with the White Lions, I don't see why he'd need the Gem of Courage, though if you have the points left over, it doesn't hurt.

Rest - no major comments, though personally I'd probably drop the command minus the champion off the Dragon Princes.