Heroes:

Highborn : Manticore, Lance, Sea Dragon Cloak, Shield, Crown of Black Iron, Armour of Eternal Living ... 428 points
Beastmaster : Manticore, Lance, Sea Dragon Cloak, Blood Armour ... 260 points
Sorceress : 2 Dispel Scroll ... 140 points

Core:

5 Dark Riders : Musician, Repeating Crossbows ... 127 points
5 Dark Riders : Musician, Repeating Crossbows ... 127 points
11 Warriors : Musician, Repeating Crossbows, Shields ... 137 points

Special:

5 Harpies ... 65 points
5 Shades ... 70 points
5 Shades ... 70 points

Rare:

4 Reaper Bolt Throwers ... 400 points

Total 1996 points

The sorceress goes in the Warriors. I want to know your opinion about this list. Thanks!

You're actually better off a lot of time putting the sorc with an RBT than with the warriors - not that it matters all that much. Your list is pretty one-dimensional, but it will work, there's little doubt there. There's a lot of overkill with the 4 RBTs and the two manticores and I think you can balance it out a bit if you like. If you're going to go over the top with it all though, I'd suggest doing things a bit different.

A while back I was using pretty similar armies.
http://www.druchii.net/viewtopic.php?p=232323#232323
http://www.druchii.net/viewtopic.php?p=103630#103630

They are both very strong armies, but the one with the dragon is easier to use.

It's an interesting army. Lots of small and fast units. But I too think that you should put the sorceress with one of the RBTs

Against CR armies such as O&G and Empire you'll be pretty much relying on that one-time Terror Test and panic tests from killing enough in the shooting phase.

If that fails, its pretty much game over.

Not completely, no. Combine charging with a unit of DR and one of the monsters should win a combat. Do this on two sides of the field at once while firing the RBTs to the middle and you have the capability to generate a panic test in most units in the entire horde army (possibly more than once in the turn if you get lucky). If anything, that'll slow them down a fair bit. When in doubt, you take both monsters and ram them right into the unit with the general - challenge with the lord and beat up on the unit with the beastmaster (a little bit anyways) and you can many time punch your way through the nastiest and highest Ld unit in the enemy army turn 2. If that fails, its definitely game over, but that's the gambit.

I think this list will work well only if there is not alot of terrain that could slow your movement around the board or preventing those massive 24 RBT shots a turn. Otherwise, let the arrows lose and hope you have enough staying power to hang in there on turn 3 when they get close. I'd swap something to get a 5 strong unit of COK's if possible.

I'm thinking about dropping 1 RBTs and changing my Highborn for a High Sorceress L4 and boosting my scroll caddy as a L2, I'll see about that since it will give me more firepower before the close combat.

You'd also get about 40-60 more points to play with if you do that (depending on magic items)