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Hmm... it will be very difficult for you against the Dwarves... Their high-tier units are not vulnerable to magic, and the Academy's units are not very strong; after all, the Hero is the most important thing for mages! So, there's no choice – mages are your opponent! But there are also advantages: the alliance of mages and dwarves doesn't look very good, because they both need a lot of valuable resources, and in your team, you can help each other with resources; he gives you valuable resources, and you give him money. By the way, what map are you playing on – it would be best to play on a random map generator (at the maximum settings)...
Added 5 minutes later
on Rakshasa, take the Conflux, then (with pressure) enjoy it ;) but he can do the same, so I wouldn't put pressure on him... I would put more emphasis on defense than on attack! So that we don't get hit too hard, and the rest depends on the map!