obviously the setup is dictated by the roll that you want the vampire to fill.
For a lord that is either magic, combat, or the less popular hybrid version. For my Lord I tend to go with the hybrid believing the magic is critical and even though he isn't the beast that a pure combat lord is he still adds quite a bit of punch to one of my units. The configuration is use is: level 3, Master of Dark Arts, Lord of the Dead, Avatar of Death (HA/GW), Walach's Bloody Hauberk, Book of Arkhan, Cursed Book.
If I want to go focus heavier on combat and do not want to field him in an infantry unit then I will swap MoDA for Red Fury, AoD for Dread Knight, and LotD for Infinite Hatred and keep the magic items the same or swap the Cursed Book out for the Balefire Spike. Alternately for a pure casting lord you can go the other direction: level 3, MoDA, Forbidden Lore, Lord of the Dead, Helm of Commandment, etc....though I still prefer to keep a ward save for those "oh s#&t" moments.
For my hero level vampires I tend to use a mixture of "focused" and "flexible" vampires. Typically I include one of each; the flexible designed to provide decent support for the magic phase, maintain some survivability, and still provide a little punch in combat. He is usually configured with Dark Acolyte, Lord of the Dead, Flayed Hauberk, Black Periapt, Biting Blade. Every once in a while I will add on the BSB as well though I prefer to field it on something more survivable like a WK rather than a Vampire.
For my focused vamp I lean towards Avatar of Death (HA/GW), Infinite Hatred, Enchanted Shield, Talisman of the Lycni. This one is pretty much used for chariot/wizard/war machine hunting. He is also fast enough to jump out and support the Varghulf against small knight units and other flank attacking units.
Of course there are many more equally (or more) viable configurations you can use but these are a few that have served me well.
WC