This army isn't supposed to be super competitive, but still curious what you guys think.

Warband 1: Elladan and Elrohir, w/ heavy armor + elf bows + horses.

Warband 2: Ranger of the North, w/ horse + spear

Warband 3: Ranger of the North, w/ horse + spear

Warband 4: Lindir, w/ heavy armor + horse

- 8 Rivendell Knights, w/ shields.

500 points, 13 units, 9 might enough to call a lot of heroics. What do you think?

I was also thinking of dropping the elf bows and Lindir and use a Rivendell Knight captain with shield instead. However, the bonus of Lindir seemed nice to gain some magic resistance with a 6'' bubble.

How 'bout dropping the Elf bows and one Ranger of the North on horse and instead add in 2 more Rivendell Knights ? Not in front of my sourcebooks to check but I think the points would be about equal.

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T'was in the darkest depths of Mordor, I met a girl so fair..
But Gollum, and the evil one crept up and slipped away with her..

It seems alright but remember heroic moves often come down to a 50/50 roll off no matter how much might you have, it can just take one lost roll to get trapped.

Personally I would try and work in a wizard, Gandalf would work well with the force - blinding light to protect from bow fire and blast/command to keep the enemy at a distance whilst you thin their numbers with your own bows.

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Soon Master Elf, you will enjoy the fabled hospitality of the Dwarves! Roaring fires, malt beer, red meat off the bone!

It's a very small list and an anti cavalry army will make life difficult, but the Twins are a good value, and Rivendell Knights are great units. Personally, I don't see the point of putting Lindir in any list that doesn't include Elrond, so I'd swap him out, unless you want to swap the twins for Elrond.

You're going to have extra points, and room only for a hero so you could do one of the following: swap Lindir for a different hero. A Rivendell Knight captain is good, or maybe Legolas. Or swap the twins for Elrond, but the twins are a good value.

If you really do want a spell caster, I think Saruman on horse is a better choice than Gandalf.

Don't think a wizard in 500pts is a necessary investment. I do agree that a captain seems more useful than Lindir: although you have some decent combat abilities in the Twins, adding another damage dealer is never bad and makes it more difficult for any enemy spellcasters to neutralise your threats. Lindir has fairly poor stats and really just gives the resistance to magic, which is only useful every other turn (it activates upon him moving, meaning enemy magic will be cast already whenever they have priority). The available Will points on the Twins, Rangers and Captain should suffice to stop the worst spell (Nature's Wrath).

Twins on horse cannot keep their special rule blade (especially more attack, shielding), no ?
Other heroes gain more advantages to get horse, it's too bad.

They still get an extra attack when charging and double strikes against a knocked down opponent, which more than makes up for it - it just means they're still dangerous when they lose their mounts.

Thanks for the tips! Will swap Lindir for a captain then! Do they not benefit from the special rule blade?

Warband 1: Elladan and Elrohir, w/ heavy armor + elf bows + horses.

Warband 2: Ranger of the North, w/ horse + spear

Warband 3: Rivendell Knight Captain, w/ shield

- 9 Rivendell Knights, w/ shields.

500 points. 9 might, 13 units.