So my mate beat me very clear last night by using the shadow lord with the army of the dead. The nazgûl caused -1 to my models courage what made it even more easy for the ghosts to wound. The cloak of shadow rule made up for the missing range of the ghosts very well. So in sbg you aren't allowed to ally the army of the dead with the nazgûl or any evil, are you? If so, i guess, this combo would be very op.

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Can't touch this! http://www.youtube.com/watch?v=8Uztj3vp-RI

In SBG not, they are in the GW section of Angmar for WotR.
He could substitute them for spectres, but only with your permission.

the only way a good player can get a -1 courage penalty is with Galadriel, Lady Galadhrim but the range is much smaller than that of the Nazgyl, and to my knowlegde she cannot be allied with the Dead so this kind of combo is impossible to field... (officially)

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I am the Mouth of Sauron, here him speak'

In SBG LoME Angmar can't have a Nazgul??? Maybe I'm misreading your post.

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Wait ye the finish! The fight is not yours.
Beowulf

http://TacticsInMiniature.com

Angmar can have a nazgul but no army of the dead.

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Can't touch this! http://www.youtube.com/watch?v=8Uztj3vp-RI