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Dark Elves and High Elves are probably at the top in terms of internal balance. There's a couple builds of theirs that tend to dominate, but they can accomplish plenty of other builds that are solidly competitive as well and neither has too many stinker choices.

I really dislike dwarfs. Yeah the *idea* of them is cool, but M3 and no magic makes them really one-dimensional to play.

 Pelas Mir'san wrote:
I find that ogres and elves have really decent internal balance. Both armies have a few units to avoid but other than that; you can go many ways with them.

To me, dwarfs lack any fun. Point here shoot, point here shoot, hold your ground and maul them to death on 4+/6++ basic infantry.

Ogres? Really? You could cut all but like 3 pages out of that book and nobody would even notice. Every Ogres list is almost exactly the same. The only question is "mournfang or maneaters, ironblasters or stonehorn"