Over in the Tactics forum there is a discussion about what armies are competitive or not. As an example of one of the armies I mentioned I threw this list together. The general concept is mauleed marines crossed with BA. You lose a few elements and you gain a few advantages. It may not be the most tweaked version yet, but it's a start. Please excuse any mistakes in the list as I don't play BA and threw this together on a whim.
232 ? Master of sanctity w/ jump pack, bolt pistol, frag grenades, 3 +D3 Death company
154 ? Epistolary Librarian w/ Fear, fury, and terminator armor
240 ? 5 terminator w/ 2 assault cannons
240 ? 5 terminator w/ 2 assault cannons
460 - 4 6-man las/plas
160 - 2 AC/HB speeders
360 - 3 Baal Pred w/ hvy bolters