Chaos has almost no problems with choosing: Minotaurs control Medusas on large maps (when close-range damage + blocking is more important than a single killing blow), Ifrits are better than Nightmares (fire shield and fire resistance against the fear of Nightmares - I think the former will win), and Black Dragons and Hydras... I personally choose Hydras (just because I like the swamp in Heroes III:)), and for a real battle, of course, more Black Dragons will be useful...
Life: a more difficult choice, regarding spearmen/ballista and monks/knights... But the last level (angels/champions) is just absurd. Angels are the best, despite the cavalry bonus of champions.
Necromancers: here, it depends on what you liked in the previous Heroes game:) Infernalists will take Devils and various creatures, while a Necromancer fan will buy Vampires and Dragons:)
To be continued:)
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