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Still clinging on to 4th Ed, so don't make huge criticisms based on the new rumours...

210 Eldrad
195 Maugan Ra

150 8 Banshees w/ Exarch w/ mirrorswords
130 Serpent w/ VE,ss

162 6 Harlequins

80 5 Dragons
130 Serpent w/ EML,ss

95 10 guardians w/ SL
95 10 guardians w/ SL

202 4 Shining Spears w/ Exarch w/ shuriken cannon, etc

220 Falcon w/ SS, VE, SE, HF, Sc, SL

155 Wraithlord w/ EML/BL

175 5　Reapers

Core firing base of wraithlord, guardians, Maugan Ra, Eldrad and Reapers - IC in each guardian squad should stop morale problems.
Quins and Banshees shoot up flank into juicy Tac. Squads, hopefully under the auspices of Doom. Shining Spears can roll up this flank too, or function as counter-assault, or with Fortune can even reliably threaten the other flank alone, depending on how spread out they are.

Overall not the most mobile Eldar list, but certainly can reposition for threats, and has enough range to just sit back and shoot. Little concerned about the Reapers as I rarely use them, and they are the only actual static element. But with 4+ ruins and fortune, they should be survivable, and will certainly dish out pain on MEQ, which is what I need. My other options would be another falcon/prism/wraithlord/walkers, none of which would be as effective in this role, and wouldn't have the great range of reapers either. Also, the second greatest problem with reapers is that of deployment, as often opponents simply avoid them, or deploy for 1st turn destruction, but with Eldrad this is much easier to avoid.

Against SAFH MEQ I think this list can stand a good chance with effective deployment, especially with the potency of Banshees, Harlequins [hit and run disruption!] and Shining Spears charging in the second and third turns. There is a good amount of anti-tank in the Dragons, Serpent, Maugan Ra [really rocks at killing tanks actually], and the wraithlord.

With Drop Pod marines the reapers will probably get hit pretty hard, and I don't care about the guardians very much, but the Wraithlord, PL, and Spears make for top class counter-assault into Tac squads, and Banshees really take out terminators at the drop of a hat. Again, with careful deployment these important assault elements should be fine after the pods land.

C&C welcome!

Solid list. You could switch the Wraithlord for a Prism to ad another Skimmer and a template, but thats personal preference and for your opponents the list likely is more fun as it is now.

How competitive do you think would be for a tournament?? I think it could respond well to most RTT style missions, but can anyone think of any significant weaknesses for this list in that sense?

Its good for tourneys. Strong, yet ballanced and a mix of units thats ok for composition-scores.

Good list, and good plan for using it.

Drop the shuriken cannon on the Spears exarch, though. I would also drop the Star Engines on the Falcon, but YMMV. 24" plus their foot movement the next turn should do you fine. It also keeps the Harlies and the Banshees together for support.

Use the spare points to buy more Dragons.