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would someone care to explain how the three troupes makes the list abusive?
The possibility of lots of cheap aspects activating on a 1+ less so with 2 troupes per host as it's harder to fit in the needed support.
Those aspects could also have falcons (not so cheap though) and this gives the ability to have falcons activating on a 1+.This can be done with 2 troupes per host but it makes adding in other support choices difficult not so with 3 troupes per host.
The ability to do good quality combined assaults with gaurdians and cheap aspects both in wave serpents (650 points with exarch and an engage range of 50cm) and not having it hurt through the activation count.Again this can be done with 2 troupes per host but with limited support choices it makes it a little bit more difficult to get the balance right.
With 3 troupes per host there are lots of fast moving support formation options and cheap quality aspect options.The Guardians could then be left on foot and left behind to guard objectives etc.as they wouldn't be needed as much for supporting assaults and speedy objective grabs.With only 2 troupes per host the Guardians really need to be mechanised or brought further into the game to help support the fewer available troupes and do the speedy objective grabs etc.
This is probably more on the fluff side as Ulthwe are supposed to be mainly about their Guardians and to me this puts more emphasis on the Guardians to be involved in the action.
From the start of the Ulthwe list I would have preferred only a +4 strategy rating but the developers want it at +5 so it's either 2 troupes per host or small points increases across the list to help balance the gain (some see it as a massive gain).
Could some one point out why the Ulthwe need 3 troupe choices per host and why only allowing 2 spoils their lists.This may help future discussions on the list.

as up to now I haven't had a problem putting a list together that I would use in a tournament setting.