Here are a few things I've been thinking about, not things I see as real problems.
Might Sergeant add something for shooting? If I add a sergeant now, his only affect is to help in melee, which for archers just makes him a defensive feature. Also, having leaders (sergeants or attached heroes) or banners affect morale would make sense to me. I know some heroes can have a morale effect.
I've only played a handful of games, but noticed how much bigger my Age of Fantasy game seemed compared do the Grimdark Future games. I think that is because there are so many more shooting units in GF, as well as high Defense and armor piercing weapons, driving their points up. I wonder whether more heroes per points would be appropriate in Age of Fantasy, in order to keep a similar hero to infantry ratio. I can use my various characters (Glorfindel, Elrond, Gil-galad, etc) as sergeants for units, but might want to use as heroes.
I'd like to see a way to put Wizard(1) on a high elf prince, or add combat to a wizard. That's just because I see the elven greats as being strong in both combat and magic.