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We've seen 3 of the new detachments and had confirmation that formations are gone, so what does everyone think will be the value of the Command Points?

An idea I'd had was that creating detachments that can only be taken by a specific army seems like just doing formations with a different name so what if every army has their own command point chart that they can spend on? This allows any of the many standard detachments to still be customized to the flavor of the army taken.

Some generic ideas that all armies could buy
1 point - troops get ObjSec
2 points - +1 on seize the initiative( if it's still around)

An idea for army specific rules using Tyranids:
1 point - Get to re-roll instinctive behavior on troops in the detachment.
2 points - Get to re-roll instinctive behavior on all members of the detachment.
3 points - Creatures within Synapse range may assault the turn they arrive.
3 points - Instead of a dedicated transport, per the normal detachment rule, a unit may be given deep strike.
4 points - Flying Tyrants are only HQ and not both HQ and Flying.

Anybody else have any theories on how they will be used or what they'd like to see done?

I'm pretty sure they won't be passive army-wide buffs like you have here, but will be ways players can change specific game outcomes such as individual rolls.

+1. Pretty sure they are going to be in game benefit. Not something you spend while building army list.

They've already announced that you can spend 1 per phase, and it's somewhat generic at this point.

For example, the charger strikes first, however, as the person being charged, you could spend a command point to nominate a model to swing immediately after the first individual charge model goes.