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I'll start with the list and then get into the tactics afterward.

HQ: Sanguinary Priest - Jump Pack
Troops: Tactical Squad - Flamer, Hand Flamer
Troops: Tactical Squad - Flamer, Hand Flamer
Elites: Death Company Squad - 4 CCW, 1 Power Fist, 5 Bolt Pistols, Jump Packs
Fast Attack: Assault Squad - 2 Meltaguns, Combi-Melta, Jump Packs

The basic plan is:
Tacticals go to hold objectives and burn those who come near, I may move them up if I'm facing an infantry heavy army, but I can handle that as it comes.
Death Company run up the board as fast as possible to get into melee with my opponents key units, or anything I deem to be threatening at the time (they usually end up wrecking HQ's and other CC-oriented squads before then wreaking havoc amongst any ranged units.
Assault Squad runs up the board to take out any vehicles/monstrous creatures that may appear, if not they are going to vapourise any ranged units.
Sanguinary Priest is just there for a cheap HQ, but I run him with the Assault Squad to keep the Meltaguns alive.

The list is definitely lacking in range - though that is because I wanted to do a themed Blood Angel army - so it suffers against any gunline lists (although this list did once wreck a Tau army). Any thoughts, opinions, or suggestions are greatly appreciated.

Well there's not a lot to say at 500 points.

I prefer scouts over tacticals all day every day. Cheaper, and come with their own deployment tricks instead of being stuck on foot in your deployment zone or buying an easily popped transport.

It's very possible to hide behind terrain while moving up the DC and ASM, and then jump out when the scouts outflank in for a sudden surge of threats all at once.

With the points you save on the scouts, the priest could afford a weapon like valour's edge so his ASM squad becomes more than just some ap - attacks in combat.

 niv-mizzet wrote:
Well there's not a lot to say at 500 points.

I prefer scouts over tacticals all day every day. Cheaper, and come with their own deployment tricks instead of being stuck on foot in your deployment zone or buying an easily popped transport.

It's very possible to hide behind terrain while moving up the DC and ASM, and then jump out when the scouts outflank in for a sudden surge of threats all at once.

With the points you save on the scouts, the priest could afford a weapon like valour's edge so his ASM squad becomes more than just some ap - attacks in combat.

Hm, that's a good idea. I haven't done it as I have no scout models. Are sniper rifles any good? Is a Heavy Bolter any good? Or should I just stick with good old-fashioned Boltguns for them?

It'd be nice to get some AP, you're right. I'll give that a try.

I normally just ran bolter scouts with 0 upgrades unless I had points left over. Blood Angels are a beautiful elite army so I tend to keep my troops cheap to focus more on the elites.