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HQ- Heamonculus 50
Troops
kabalite blob of 20 with 2 splinter c. and sybarite upgrade - 210
4 venoms with wyches with HWG (venom gets night shields and extra splinter c.) - 135 x 4 = 540
Elites
2x 5 incubi with venom with extra splinter c. + night shields = 185 x 2 = 370
heavy support
2x ravager with night shields = 230
fast attack
4 reaver jetbikes + heat lance = 100

allies black templars
HQ- chapter master with shield eternal + thunder hammer OR lightning claws + jump pack + artificier armor = 245
elites
5x vanguards + melta bombs = 135
troops
10 scouts with close combat weapon and veteran with melta bomb = 115

what do you think?

Well, DE with a BT ally detachment. My goodness. For 500 pts, you will certainly get something better although the CM is a real beatstick. Instead, you could go with Karandras and an Eldar detachment.

My only question is why...

Though to be serious your BT part seems a bit lacklustre. I'd go for that points amount a chapter master with minimal equipment with an honour guard and razorback. Then depending on the points left I'd look at getting either a crusader squad or some shooty stuff.