Right then. Well, I have not posted in a LONG time.
The list.
EPIC:
The tainted
Common:
Spectres; 3 companies
spectres; 2 companies
Orcs; 4 companies, w/ banner, drum, captain, shaman.
Riders of the dead; 4 companies
Allies:
Wargs; 3 companies, w/ captain
goblins; 3 companies, w/ captain, shaman, bows
The RW will eat at the foes courage with magic so that the spectres special rules are more likely to work.
over all the list forms a small fast elite army, the lack of monsters is countered with magic and I think the spectres counter the lack of rare formations very well.
Open for criticism.
It looks a lot like my Dol Guldur army in several areas, and I admire how you're keeping to theme while working at a competitive force. That being said, you DID ask for input. 
The Specters are great but having a couple 3-4 Company Formations of Ghosts as well would keep some of the attention off the greater threats and give you some nice infantry to Spirit Walk right thru terrain or other formations to secure a flank or rear charge, and the more Spirit Grasp forces you have the better too. My Dol Guldur army ate Dwarf and Elf armies for breakfast when we were building them during a local Tale of Gamers thanks greatly to Spirit Grasp (yes, Captains/Heroes are in there but they are STILL lower Courage than some of these model's Defense). They are all plastics, quick to paint and the extra points gives more to allies if needed.
