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I'm running a competitive Eldar Serpent Spam Build with 2x standard Wraithknights for anti-tank and board control / fire soaking. My problem is if the opponent has AV14 and is smart enough to ignore the knights, I question their overall value. Two Str 10 AP 2 shots each is nice but not exactly dakka, they can easily miss once, and 5 str 10 attacks on the charge is great for light/medium vehicles, but again, against AV 14 seems "OK." For 60 points less I can run two squads of 3x War Walkers with 2x Bright Lance; 60 points less for 12 Bright Lance shots, which are undoubtedly much more effective anti-tank is starting to feel like a no-brainer. Here is the rub as I see it however - the wraithknights, which at the end of the day don't seem to put out a ton of damage, are incredibly hard to deal with if I can get the opponent to commit, but semi-wasted if ignored; the War Walkers on the other hand are vulnerable enough and powerful enough that an opponent is never going to ignore them, and they have fairly weak defenses. So, which is tactically better to take?

They do around the same damage out put vs av 12 tanks.
12 bright lances=4 hull points
4 heavy wraith cannons=4 hull points
Bout with out cover modifiers, but they are essentially the same.

Higher the av, the better the walkers though.
Thing is, walkers (especially with lances) Have no place in the type of list your running. They die literally the turn your opponent shoots at them. With literally anything. There damage output is good, but not fantastic. Nowhere near enough to make up for there survivability flaw.

The wraith knights are WAY great at surviving, do good damage at shooting, do crazy damage in assault vs av 14. I would rather have a wraithknight for anti av 14 every game.
Also the wriath knights have the added plus of taking a ton of fire power away from the serpents.

Keep the knights. Their worth it and your list is great.

Thanks for the feedback, I agree with your assessment, though that many lance shots has a certain allure, they are just far too fragile.