Also from what I recall, (its been a while since I read the fluff so correct me if I'm wrong) generally the majority of marines don't survive long enough to become veterans, so those that do would generally have been the members of a squad that were skilled enough to overcome encounters that their battle brothers did not.
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I'd gladly shell out more points for a unit that's reflective of its true capabilities, becasue I'd find them more fun to play with.
Not so much, I think. Space Marines almost all survive long enough, it is just that most of them never get chosen to be veterans. See Long Fangs - they are the oldest, most "veteran" space wolves in the company, but they have bs4 and one attack. Even though they are that old, they are not in the Wolf Guard, who have two attacks
The way you describe is how it works for Imperial Guard veterans though.
Another problem is that bs5 is not worth that much more. It means your bolters hit 25% more often, but they are still bolters. By comparison, hellfire rounds give you 50% more wounds, and s4 -> s5 gives you 33% more wounds against t4 and allows wounds on t8 creatures, which s4 does not.
Eh.
Codex veterans can have a special rule though:
Oaths of Moment: In the shooting phase, this unit may nominate one of its models to reroll all failed rolls to hit, wound, and penetrate for the rest of the turn.
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They used to be +1 WS BS, back in 2nd ed. Ultimately my issue is that I find sm vets statlines boring, compared to the elites of other races, and not reflective of what they should be.
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I read a thread on this recently, and the guys reckoned If you were to stat them from what you read in th novels they'd be Toughness 5 save 2+ on a D10 and bolters would insta-kill anythign man-sized that they hit. Of course if they were like that on the tabletop, they'd be about 120 points each and you'd need about thirty orks to fight every marine!
They don't have to be expensive to be powerful.
Tau fire warriors go to ws1, shas'ui and up remain
ws 2, 3, etc
Guardsmen go to ws2, veterans and storm troopers remain ws3 officers remain ws4.
Ork Boyz go to ws3, Nobs remain ws4.
Guardians go to ws3, aspects remain ws4.
Hormagaunts, termagants ws3, genestealers ws4.
Space Marines remain ws4, non-sergeant characters ws5.
Orks lose 6+ armor.
Orks gain
fnp 6+, Space Marines gain
fnp 5+. Dark Eldar are
fnp 6+ without pain tokens. Chain blades ignore
fnp.
Power Armor goes to 4+, with a +1 to all rolls to save.
Artificer armor goes to 3+, chaos armor 3+/6++
Power Armor,
TDA, artificer armor give +1 shots to all weapons s4 and less except blast and template.
heavy aspect armor, crisis suits, etc unaffected.
Basic Space Marine trooper at 18 points. Sternguard with no special ammo at 23, + access to
cc armory and have Oaths of moment.
ATSKNF is "always rally," no other rules.