This first list is one that includes the Mahud. It is very low model count, with not a lot to compensate for that.
The Betrayer is a tough sell. I can't see taking a generic Nazgul in these lists because he can't lead a warband, so the cost of another hero has to be added on top of him. I also didn't buy the Mordor book so I'm not sure what the rules are for them. I don't like that his spells are harder to cast than Bob's (Bob the Budget Nazgul). His special rule for poison is nice, doubling the chances of using it. It seems to make sense to upgrade the bow warriors to Kharna warriors to get the 3/3 Shoot value. They cost one point less than Watchers of Kharna, who are better because of two stat bumps. On the other hand I don't have any Watcher models, so they are out.
Warband 4 is the hardest to swallow. It's 96 points of beatdown, but also a big target for shooting. One or two bad rounds and that's a lot of points gone.
The Betrayer – 120
6x Abrakhan Merchant’s Guards – 48
3x Warriors w/Spear - 21
Taskmaster – 60
12x Warriors w/ Spear - 84
Chieftan w/ bow – 50
12x Warriors of Kharna w/bow - 120
Mahud Tribemaster – 50
2x Half Troll – 46
Break Point - 20