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Well, an army of all Psykery style guys, with all at least a 5++? What's not to like.

Ahriman, for fluff purposes, and a Tzeentch DP or Sorceror, combined with Thousand Sons marines and Tzeentchina Termies and Chosen squads. Will be small, slow, but fun, though it weill struggle against GK, as they are strong VS psykers as well as Daemons.

If they don't have an Invulnerable save, is it not an automatic 5++? For MoT?

There you go. 4++ all around! What could be better? The only other army to get such would be Daemons. Chaos is clearly in favour of its minions, as aposed to the Imperium who have to drop a gun to get similar styles.