There is the extensive HA topic just the next to yours.
Anyway, my conclusion which I also posted in that topic is that HA char is good for about mid-level and mid-game with somewhat steep learning curve. In the end however he starts to seriously lack as there are virtually no options for him to tackle on the huge lord parties and engage in regular war. He is indeed the best DPS and killer but that does not achieve you much late-game when your guy's combat proficiency does not really matter that much. Someone suggested that using mods like Floris could give you an extra boost making it almost viable but I still think it is not really worth the trouble. HA is fun but not really the guy for the world-conquest or serious war anyway.
That said I would recommend going commander-type character with slight investemnet in STR/AGI. Starting choices: travelling merchant, shop assistant, squire, forced out/loss of loved one/personal revenge. With those you will have no wasted points. The goal is...
Stat-wise:
- To get STR to at least 9 for full plate, optionally to 10 for full/winged helm or even 12 for masterwork light crossbow (may be used from horseback). 13 would give you masterwork siege crossbow which is great but might be waste of attribute points...
- To get AGI to 9 for riding of 3 and heavy courser or to 12 and riding 4 for heavy charger. This is a must have if you want to go hacking yourself. The first is sufficient for commander types staying behind.
- CHA to 27 for leadership and trade @ 9 and some prisoner management optionally (5 is a max imho).
- Rest goes to INT which you need to have at least at 10 for Essence of logic book which gives you 11 INT and enables you to read Treaties on Value of Things which will give you Trade to 10. Similarly Life of Alexinus the Great will give you Leadership to 10.
- Once you are all set you can decide if you want to improve your combat skills by going with STR/AGI to 15 or even beyond or will improve your command skills by going with higer INT.
Skills-wise:
- Max Ironflesh for HPs, PS for punching, WM for faster combat-stats, Riding is a must have at 3 or 4 (see above), Inventory management leave as is (at 2 from the start), Trade and Leadership max to 9 + books will get you to 10. Trainer is a must have (and it stacks with your companions) for faster leveling of your troops. Optionally prisoner management if you want to be extra rich (personally I don't use it so 1-2 points are enough for quests and some emergency cash or extra valuable prisoners; it is not needed for lords though).
- Rest depends on your choice of combat-oriented or command-oriented attribute investment. If combat then athletics and shield, if command then whatever you wish as there is plenty - wound treatment or first aid helps a bit. Engineer too. But you can get all of them easily covered by companions...
Equipment:
- Being full tin can is the best so lordly plate set + lordly winged helmet. Reinforced heavy heather shield gives the best protection size and endurance, does not obscure view such as Huscarl's shields and is wooden. Of course you may go for iron shield but that does not look very knightly.
Masterwork light crossbow or regular light crossbow for mounted shooting (stop your horse before shooting as you don't have HA). For sieges siege crossbow and if you have strength you can go for masterwork siege crossbow (68+2 dmg) which one shots anything in sieges where you can only use it. And as a melee weapon I would recommend Masterwork heavy/tempered bastard sword. Versatile 1/2handed sword which looks bloody good.
Party:
- NPC parties of 6/9/10 depending on your choice and taste. You need companions to make up for some lacking skills such as medical etc. Also give all of them trainer skill so you level up recruits in no time. See Library for likes/dislikes and known sets of companions etc. Or disable interaction via TweakMB and have all 16-
- Swadian knights: the best of best. Hire those and you will never lose a field battle. 50 of them will solo several times bigger opponent parties without single death on hardest settings.
- Huscarls: slightly harder to manage. Needs to create packs (stand closer command) and micro-manage them a bit as they tend to die relatively often... But they are considered cavalry for campaign movement so they are viable options none-the-less.
- Vaegir knights: weaker cav with 2-handers but AI is stupid in using them and they die a lot more often than Swad knights due to lack of shields.
- Mameluks: arguably even stronger than Swad knights but they just look awful...
- Stay away from Khergits - worst units ever and Rhodocks - after some patching they got slightly better but are still relying too much on numbers.
Overally you can have big party with no worries for morale and may opt for mixed cav/x-bow/inf armies but they tend to be harder to manage. My advice is going with swad knights and when you want to siege train up some rhodock sharpies and nord huscarls. But even then it's best to pick out most enemies in sieges by yourself with your trusty crossbow and maybe the help from your x-bows.