Hi, I think I found two flaw in the point system, let see this:
First Flaw
I wish to recreate the army of the dead, an element of ghostly warriors.
Infantry
Move 4, Melee 2d8, Defense 4,3 wounds, morale 2+
Cause fear, Chaotic, Ignore Terrain, Impetous, Undead.
Cost 503 point per elements.
Ok, I think this is a little expensive... but after all the remnants of spirit in search for vengeange are'nt quite a monster? And so...
Monster (size 1)
Move 4, Melee 2d8, Defense 4, 3 wounds, morale -
Cause fear, Chaotic, Ignore Terrain, Impetous, Undead.
Cost 205 point per elements.
Quite expensive indeed, but imho 300 point less is a huge discount, and Morale 2+ could still fail.
Ok, allowing units of monster is a propostal, but if you do you should consider give morale value to all elements, even if alone or the point cost formula lost an important modifier.
Second Flaw:
I wish to recreate a huge artillery, a very big trebuchet or a big ballist or something weird and almighty...
Artillery of doom
Artillery
Move 2, Melee 2d4, Missile 3d12/20, Defense 1, 6 wounds, morale -
Piercing
Cost 147 point per elements.
Woha... maybe a little costly... but an artyllery should be near immobile right? So adding Rabble and Slow Moving:
Artillery
Move 2, Melee 2d4, Missile 3d12/20, Defense 1, 6 wounds, morale -
Piercing, Rabble, Slow Moving
Cost 52 point per elements.
This is a juicy discount and is justified... and if I can have battery of them allowing them to make units... brrr. Of course I can give them veteran (64pt) or better chaotic or disciplined (82pt) and it could bring down heaven...
So this is in short:
Morale is an important modifier for the point calculator, removing it from other than personalty make unbalanced units.
Defense and Wounds are a sensible matter. Very low defense (0 especially) can have a bunch of wound with no cost, high defense pay for it... now, much wound is definitely better than high defense.
Some ability is good but are too prone to abuse, must search and destroy... well maybe not destroy but sure make some limitations.
Hope this helping, see you soon.