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from Life:
1) Peasants are the weakest combat unit, not intended for battle. However, gold is always scarce; 1k is already quite effective, and 2k is even better. They pay for themselves relatively quickly; I always take them in a caravan or even place them near the building.
2) Squires are an average, fairly mediocre, and normal unit.
3) Archers - with their ability, they are perhaps the most useful combat unit in battles with full armies on the field at level 1, and also useful for defending the castle.
from Death:
1) Imps - well, they're weak, but they're okay for level 1. You can give one to a hero to improve their movement; in battle, if you're lucky, they can disable the ability of a Nightmare, Angel, Devil, or Phoenix, or weaken mages.
2) Skeletons - good for defense, especially if you have a dwelling of the dead. Otherwise, I send non-necromanced ones to the castle. They have a decent attack, but they're mostly for defense.
3) Zombies - dull, good for defense against mages, although I don't even buy them unless there's no other choice. They're relatively cheap for their stats, but their effectiveness is also accordingly low.
from Chaos:
1) Thieves - an average unit in battle, slightly worse than a Squire. They're not very useful on the map for gathering resources, but they have good movement and speed in battle and on the map.
2) Orcs - good for defending the castle, with good accuracy, but without that, they're a unit slightly stronger than an average level 1 unit.
3) Trogolodites - physically decent, but considering they require an extra slot and only grow in external dwellings, they are rarely used. If they were in the castle, it would be a completely different story.
4) Pirates - weak - they can't move well, and they're only useful at sea. Otherwise, they're slightly stronger than a Thief, but inferior in speed and range. I only buy them when there's nothing else to buy or when there's extra gold, and you can't build dragons or hydras, for example.
from Order:
1) Halflings - an average unit, with better accuracy. Since accuracy is often available to the army, they can be used as archers.
2) Gnomes - physically strong, but slow. They're good for magical/physical defense.
from Strength:
1) Berserker - if it weren't for their stupidity, they would be the best. As it is, you can leave them to defend the castle and in final battles, but even for the final battle, you need tactics to make sure they reach the enemy. They are the cheapest after peasants, and they have a lot of growth.
2) Centaurs - they move well on the map, they're good in melee combat, but they shoot terribly. They have few shots, and their growth is only 9 (with a Dryad, it's 13.5). With a purchased lord, leveled up to level 2, they don't grow above 15.
from Nature:
1) Sprite - not bad, you can take a few for movement, and in battle, they usually hit at least once + they can attack and fly away.
2) Wolves - strong, good, but they don't shoot. They have 7 speed, 2 attacks, above-average HP, and they move further in battle than the average level 1 unit.
3) Leprechauns - summoned units are good; they are summoned on the move. In battle, they have a normal movement range and a useful spell. However, they move poorly on the map and have little growth, so it's definitely not worth spending a portal on them.
But I've highlighted the most useful ones - the crossbowman, the sprite, and the berserker (if you can accumulate them, you can even take them into battle, because as you progress, they become useless due to their stupidity)