I'm not sure how well that would do. I mean, if you want a serious challenge I'm sure you could go into the files and edit it so that enemy lords have all elite troops, but I for one wouldn't like that.
I would personally like to see it where enemy lords have to recruit troops like the player does (or they could just start out with a high number of recruits), and those recruits would be upgraded when possible (such as if the lord has the trainer skill, and when his party wins a battle). That way, you have lord parties that have a high number of troops, but not all of them are elite. When you have lords with high trainer skill that wins a lot of battles, those lords will have all elite troops.
I know at the start of this message I said I didn't like the idea of lords having all elite troops, or lords that had parties that grew in quantity and quality based on your level, but what I said is different. With my idea, lord parties don't have an unfair advantage over the player party (they don't automatically get a big party with the best units, nor do they get a party that goes up in both quantity and quality as the player levels up). It also doesn't give the player an unfair advantage, as they would be leveling up the same way the player does, and that is by training and fighting.
What are your thoughts on that?