Which faction poses the greatest challenge for the Dwarves?

Magic, of course ;)

Nah, without magic, we lose such great things as secret knowledge and protection of the undead from magic. And what should we take in logistics? Death March and Keen Mind? No, thank you. I've always managed without logistics, and I'll continue to do so.

By the way, I checked, in an open field, the Dwarf has a better chance against the Necromancer, but in the Necromancer's castle, the Necromancer definitely wins. How about this: if a Dwarf has high magic resistance, when a spell like Dispel is cast on a subordinate unit, does the spell reflect? That's pretty cool.
No, even if the Dwarf wins, the Necromancer can always defeat him. The Dwarf will be left with a small group, and in a couple of weeks, the Necromancer will come back with the same army, and the Dwarf will have what? So, if you prolong the game, the Necromancer will beat the Dwarf.:smile03:

To mish-gan: I checked your "trick" - battle to the last + resurrection rune. Complete nonsense. It's better to use the updated rune + resurrection rune, and it will be more effective.