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HQ
Librarian
Warlord, ML3, Master-Crafted Nemesis Warding Stave, Storm Bolter, Domina Liber Daemonica
(175pts)

Elite
Purifiers (10)
Knight Of The Flame: Daemon Hammer
(260pts)

Troops
Terminators (10)
Justicar: Daemon Hammer
Terminators: 2 Psycannons
(380pts)

Fast Attack
Stormraven
TL Multi-Melta, TL Assault Cannon, Hurricane Bolters
(230pts)

Heavy Support
Dreadknight
Personal Teleporter, Nemesis Greatsword, Heavy Psycannon, Heavy Incinerator
(225pts)

Dreadknight
Personal Teleporter, Nemesis Greatsword, Heavy Psycannon, Heavy Incinerator
(225pts)

Total: 1495/1500pts

Tell us a little bit about your battle plan. I'm assuming that the Purifiers are going into the Stormraven and Terminators are deep striking along with the Librarian

The list seems a little light on units. On one hand you want to max out on Dreadknights, but on the other hand you clearly want to play NSF. So if you're going to have only two Dreadknights, you need to be sure that you've got a plan to counter the fact that a pure Grey Knight force suffers from its low model count

Also, I'm not very comfortable about playing the NSF without some kind of modifier to my reserve rolls, but most people seem fine without them

Haha, sorry for not making it more clear. The Librarian and the Terminators will deep strike turn 1 and the Dreadknights will start on the board and deal with really dangerous enemy stuff. Hammerhand and the possibility for sanctuary also makes the terminators a good all round unit. The purifiers are basically there to clear out tarpits. They're not tough enough to take on things with AP3/2 weaponry, so they'll be using a lot of cleansing flame. The stormraven will provide aerial support and serve as a transport for the purifiers. I might consider in investing in Incinerators for the Purifiers.

Purifiers with x4 incinerators and combat squad ed are life.drop them in, put down 4 templates and cast two cleansing flames. Any horde army, or Eldar infantry hiding in cover (guardians and dire avengers) weep tears of flaming blood at this. Then if you really go all out with anti horde you can go for a bunch of falcons so you can put more attacks on a horde, some might call it overkill, but against a squad of 50 guardsmen, there is no such thing.

I wouldn't give the demon hammer to the knight of the flame either. He will just get challenged out and killed. You should just give it to someone else.

Debatable point there. He might get challenged out and killed OR without it he might get challenged out and not be able to do anything due to lack of ap2

Thanks everyone. After reviewing my list, I am definitely going to add some Incinerators and Falchions to my Purifier squad and combat squad them. It should be excellent for dealing with hordes (Gaunts, Guardsmen etc) and will give me 2 more warp charges.

Updated List
HQ
Librarian
ML3, Stave, Storm Bolter, Domina Liber Daemonica
(165pts)

Elite
Purifier Squad (10)
Knight Of The Flame: Hammer
Purifiers: 4 Falchions, 4 Incinerators, Hammer
(306pts)

Troops
Terminator Squad (10)
Justicar: Hammer
Terminators: 2 Psycannons
(390pts)

Fast Attack
Stormraven
TL Lascannon, Tl Multi-Melta
(200pts)

Heavy Support
Nemesis Dreadknight
Heavy Psycannon, Heavy Incinerator, Personal Teleporter
(215pts)

Nemesis Dreadknight
Heavy Psycannon, Heavy Incinerator, Personal Teleporter
(215pts)

Total: 1491/1500pts