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Love meself some chaos termies. I play iron warriors, and I like the most bang for my buck so I'm going to get the cataphractii guys. I'll probably use this loadout

champion with accursed weapon (Power sword), and combi bolter
2 guys with power fists, one has a heavy flamer, one has a combi bolter
1 guy with chainfist and combi bolter
1 guy with lightning claws

that's five already. enough for a single squad. the rest I'll build like this

1 guy with accursed weapon and combi bolter (he has this loadout so I can use him as a champion when running 2 five man squads)
1 guy w/ power fist and heavy flamer
1 guy with power fist and combi bolter
1 guy with lightning claws
1 guy with chainfist and combi bolter


I hope this is legal. Like I said, what are the benefits of running five man squads vs one ten man squad?
I know it's more versatile as you could execute a pincer move with the 2 squads, but with one you could have a solid wall of close range terminators. Literal T-800s just destroying guardsmen or something. I'll only really need like 15 at most in a collection so I just want some advice.
Any help would be appreciated, corpse worshipper Dakkanauts!
Weakness is a choice! Iron is strength!

The benefits of running 2 5 man squads is hou have the benefit of increased flexibility. You can have 2 deepstriking units that are tough and need taking out or will cause a big headache for your opponent. Also you have the option to deepstrije one squad and keep other in reserve for later
Tge advantage of a 10 man is its a nassive unit to chew through for your oppinent. 30 wounds at 2nplus armour abd 4 plus inv save. With Abaddon they become insanely strong. With a sorcerer they can shrug off mortal wounds. And they can take out almost any opponent or tie up units that should be taking objectives

You might consider putting the chainfist and the heavy weapon on the same guy so if you lose 4 terminators you can still have your heavy weapon and chainfist alive

Yeah, Terminators ascribe to the "eggs in one basket" theory. You don't spread your good weapons out. You concentrate them on as few models as possible.