Of course their comparable with CoK, medium cav, yep, no stupidity and faster, yep, but it's still fearcausing cav.
For the pointscost it averages 27 points per model for both units assuming no command. 27*15 = 405 for CoK, 15 DR w shields + master bsb, dreadbanner: 18*15+70+25+40=405 for the DRs. that said, I'm not even counting the masters steed, nor mundane protection. At 11 models the cok's will be cheaper per model.
And don't forget to remember the hero choice that is used by DR when claiming the special choice is the problem.
With the warhound example I think someone is forgetting the 3 ranks+ outnumber bonus for 6pts a model. This cannot be compared to an 18 pts a model unit to do the same task. it's freakin 3 hounds per DR.
I still see very limited reasons to use shields as you may as well forgo the +1 for ranks to gain lot of mobility (still keeping the dreadbanner).
The option of shields is a nice addition, giving another one of our core units multipurpose use.
I respectfully disagree james. it takes away the multi purpose unit. Without shields DR's can hit in CC especially with hatred, they can bait, redirect, and shoot. and they can do all well.
With shields they are better in CC but only marginally, as they are less likely to get the flank charges due to the lessend mobility. they can bait although they are worse as they lose the fast cav rules, are a bit worse at redirecting as they cost more, and worse at shooting as they cant shoot 360 degrees, and cant march/rally and shoot.
With the bigger unit they gain more hitpower, but sacrifice a lot of shooting (second rank can't or lose mobility because they want to add a rank before they charge), and they can bait but with a 400 pts unit I'd be very careful. redirecting is almost certainly a nogo (200 pts on top for 2 banners)
Cheers from Xerasi who knows when you calculate ranks, Mordru, but can't see why it matters when the rank is gone before CC starts (as DA also suggests), and as you already get +4 from a flank charge (negating 3 ranks is the same as -3 to the enemy, whilst getting +1 for flank)