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Hi
Is there a consensus on this?

I like the look of CM+Artificer Armour+Bike+Burning Blade+Digital Weapons
I like the idea of AP2 at Initiative 5 with digital weapons to deal with a variety of critters and still maybe hurt the odd warlord. However its still reliant on iron halo for instant death avoidance.

However people talk about
CM+Bike+Armour Indomitus+Artificer+Thunderhammer
which obviously has the advantage of being immune to instant death but attacks at lower initiative and is more expensive.

Is any single loadout considered the best all round ? What do others out there run?

There are two really great CMs out there:
From the main rulebook: Shield Eternal, Thunder Hammer or Burning Blade, Artificer Armor, Bike. Digital Weapons optional.
You either get I5 S7, or I1 S8. Iron Hands chapter tactics gets you 4 wounds, 2+3++, 6+ FNP, It Will Not Die, Eternal Warrior.

From the Clan Rakuunan suppliment:
Gorgon's Chain, Artificer Armor, Thunder Hammer, Lightning Claw, Bike. Digital Weapons optional.
This is a similar build, but has some distinctions. You get one more attack and some more versatility (Strike at I5 with S4 Shred AP3, or I1 S8 AP2), and with 4 wounds you have 2+3++, Feel No Pain which can hit 3+ if you roll the right warlord trait and have an Apothecary in his squad, (5+ solo, 4+ with just the Apothecary), and all around a better CM. However, at 1 wound taken you lose the bonus FNP, at two wounds you lose EW, and at three you just get a 4+ Invuln. (It comes back if your wounds return via IWND though.) So, you're initially stronger but lose power as you get wounded.

In your second build I believe you meant Shield Eternal not Armor Indomitus, as you already have artificer armor.

The standard build is what I like to call "Lysander lite".

Thunder Hammer, artificer armor and Shield Eternal gives you EW, 2+/3++ and S8 AP2. Add bike, upgrades and preferred chapter tactics.

Most builds run Shield Eternal for the EW. Changes to the Smash rule have made this slightly less mandatory, especially on a bike but it's still the default.

Hammer is taken over burning blade because it's cheaper and can instantly kill T4 and doesn't care about the lost attack from the shield. Burning blade does let you keep I5 though and you're still wounding most things on a 2+.

I like to run mine a little cheaper.

Artificer Armour, Power Axe, Shield Eternal, Melta Bombs

about 220

or I also like this guy

Armour Indomitus, Primarchs Wrath, Powerfist

about 220 also

Both CMs can get it done. The Artificer CM is good for rolling around beating on TEQ, the Melta Bombs are for the odd walker/mc. The Indomitus CM is fun for moving and shooting the Orbital as well as the PW.

I don't run mine on bikes as I like to run them with their HG buddies, also in a Rhino for extra lolz.

Yes, my 420 point unit is riding in a 35 point tank! Come at me brah!

Waaaghpower wrote:
From the Clan Rakuunan suppliment:
Gorgon's Chain, Artificer Armor, Thunder Hammer, Lightning Claw, Bike. Digital Weapons optional.

This is a similar build, but has some distinctions. You get one more attack and some more versatility (Strike at I5 with S4 Shred AP3, or I1 S8 AP2), and with 4 wounds you have 2+3++, Feel No Pain which can hit 3+ if you roll the right warlord trait and have an Apothecary in his squad, (5+ solo, 4+ with just the Apothecary), and all around a better CM. However, at 1 wound taken you lose the bonus FNP, at two wounds you lose EW, and at three you just get a 4+ Invuln. (It comes back if your wounds return via IWND though.) So, you're initially stronger but lose power as you get wounded.

This is basically the strongest chapter master build possible.

That really depends on what you mean by "best"

Strongest in raw power were presented above, but if you are willing to go into pre-built characters, you have Issodon of the Raptors, who is not very impressive in raw power except being a pretty good shooter (BS6 sternguard with an added salvo profile practically), but he completely dominates the deployment phase and reserves (and has a nifty turn 0 attack that usually won't do much damage, but might take down an MC if you're lucky...)