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What's bad about Orks? Orks are a very, very good codex. They're not at the top of the power scale, but they're above average. CSM are fairly competitive if bland, while Tau aren't so hot. Do not use conscripts though - they are seriously one point cheaper than standard guardsmen and have worse WS, BS, and LD, along with no weapon options whatsoever. Just take big blobs of standard Guardsmen. You also can't legally take three squads of 50 conscripts unless you have two infantry squads and one platoon command squad for each. Just take big platoons with lots of special weapons and commissars mixed in. These give you the same gameplay theme of conscripts while not being completely awful. Infantry squads can "blob" up and combine into bigger squads on deployment, so this is not a problem whatsoever.

The idea of massed blobs of infantry supported by lots of Basilisks is a cool one, and very fluffy. It's not the most effective build for IG, which I only remark on because you sound like you want something more competitive than Orks or Chaos. However, I would rather play against this army than any cookiecutter IG tournament list that gets posted in the army list section. It would be a fun, thematic army to play both as and against.