Madhammer, I love this guy. He's a crazy nutcase and his spells and abilities lean him towards that kind of playstyle as well.
This list is still in the development stages (i.e. I haven't played it yet, so it might change drastically once I get it on to the table. All I can guarantee will stay is the Kayazy):
Mercenaries
Four Star Syndicate
PCs: 50 / 50
35 models
[00] Durgen Madhammer (0 / 6 WJ remaining)
[02] >> Sylys Wyshnalyrr, the Seeker
[06] >> Ghordson Driller
[08] >> Wroughthammer Rockram
[03] >> Grundback Blaster
[02] Kell Bailoch
[02] Rhupert Carvolo, Piper of Ord
[02] Gorman Di Wulfe, Rogue Alchemist
[03] Eiryss, Angel of Retribution
[01] Reinholdt, Gobber Speculator
[02] Thor Steinhammer
[02] Master Gunner Dougal Macnaile
[08] Kayazy Assassins (9 grunts)
[02] >> Kayazy Assassin Underboss
[10] Cylena Raefyll & Nyss Hunters (9 grunts)
[03] Herne & Jonne
Kayazy are ludicrous with primed and they and the Nyss can scrap a jack with primed. Redline and Thor means that his jacks can crack armour pretty easily too or handle high DEF without difficulty (primed does the same thing again). There are a lot of AOEs that will go down on feat turn, all with an additional dice damage. It's not a control list, it's got solid shooting and solid melee but it doesn't really force your opponent into any difficult situations (other than by killing his models) expect for the Kayazy who with Eiryss will kill any caster that gets within 9" dead without difficulty. A little note on the Kayazy because they are the base of this list - they are MAT 7 P+S 10, they have gang which takes them to MAT 9 P+S 12, you can cast primed on them which takes them to MAT 11 P+S 14. They have stealth and they have DEF 14 which goes up to 16 when they are engaged and once per game they can move and charge straight through enemy and friendly models. Primed also drops their ARM by 2 but it's so low that their isn't an attack in the game that will not reliably kill them anyway so -2 on that makes no difference. Lastly primed makes them explode with 3" AOEs when disabled (not boxed or destroyed so it's pretty difficult to prevent), they don't have reach so if you are engaged by them you either cop a very deadly free strike or a POW 14 explosion to the face. I desperately wanted to fit the risen into this list (just because I think it's funny to put primed on them) but I can't find 5 points (Kell can go but everyone else has an important job).
Mercenaries
Highborn Covenant
PCs: 50 / 50
54 models
[00] Fiona the Black (0 / 6 WJ remaining)
[09] >> Rocinante
[02] Rhupert Carvolo, Piper of Ord
[02] Bosun Grogspar
[02] First Mate Hawk
[02] Doc Killingsworth
[02] Master Gunner Dougal Macnaile
[02] Lord Rockbottom, Expedition Financier
[05] Alexia Ciannor & the Risen (9)
[10] Long Gunner Infantry (9 grunts)
[08] Sea Dog Crew (9 grunts)
[02] >> Mr. Walls, the Quartermaster
[02] >> Sea Dog Crew Rifleman (2 Riflemen)
[02] Sea Dog Deck Gun
[06] Press Gangers (9 grunts)
Believe it or not this list is based around long gunners. Nonokrion Brand on long gunners is silly and I can switch it back and forth between the long gunners and Rocinante (or the pirates). I've tried to keep the cross over with characters to a minimum (so I could use them in a character restricted event without major changes) but Rhupert and Dougal are in both. So whats idea here? First off Fiona is ARM 18 and cannot be knocked down. She gets pretty survivable at that point. This list is about primarily shooting but the privateer package also makes it a pain to deal with (it's a lot of work to chew through all that 4+ tough) and gives the list the ability to fight in melee (and on feat turn you only roll 1 dice to hit them). The risen also mean that any privateers you do manage to kill will come back as zombies. The deck gun is her cultist unit (if it is within 1" of her she gets an extra focus, I expect the deck gun to never fire a single shot). The long gunners though shoot 14" (16 on dougals mini feat) through all models regardless of line of sight and can combined ranged attack and shoot twice if they do not move. It's a nasty combination. It's about the only thing in the army that can crack ARM too. Rocinante can do it too if he gets into melee but I'm looking to keep him back shooting switching Nonokrion brand between him and the long gunners (upkeep, activate the unit it's on, activate your caster and cast it on the other model/unit then upkeep it again next turn and switch it back, for 3 focus a turn both the long gunners and Rocinante get it.) The big thing I'm not sure about is that I don't have Aiyana and Holt. They would help significantly with the ability of this list to crack ARM. It would have to be Alexia who was dropped, and I could then take a third rifleman. I'll have to try the list both ways at least.
Some people prefer her without the pirates (except Grogspar who gives her no knock down) in which case you'd take some more jacks, probably Boomhowler, some other excellent Merc solos, maybe the steelheads (the cav and the halberdiers are an expensive package too but no where near as expensive as the pirates but you do get a lot less out of them too). She work well without the pirates too but I want to play pirates.