Personally I disagree. I think the Revenant is fine as he is. He is ok in combat - 5 S4 attacks are good but not superb.
Again I must stress you are basing his cost too much on other armies. I think looking at him in context of this army he is ok.
He adds a little to the magic, but he is using up a lord slot which looses a heavy spell caster and the option to take a high level book of Nagash. His ward save is nothing more than most armies can choose - the only change here is, his amour is effectively chosen in advance for him. Plus you add in the fact that the amount of troops with magical attacks, as well as characters etc, ethereal is not as good as it used to be. He needs the decent ward save to stand any chance of surviving.
The only thing I do actually agree on is he shouldn't have a mount - at all. I can't see this type of character riding anything.
Again I must stress you are basing his cost too much on other armies. I think looking at him in context of this army he is ok.
He adds a little to the magic, but he is using up a lord slot which looses a heavy spell caster and the option to take a high level book of Nagash. His ward save is nothing more than most armies can choose - the only change here is, his amour is effectively chosen in advance for him. Plus you add in the fact that the amount of troops with magical attacks, as well as characters etc, ethereal is not as good as it used to be. He needs the decent ward save to stand any chance of surviving.
The only thing I do actually agree on is he shouldn't have a mount - at all. I can't see this type of character riding anything.