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I personally always choose the Dungeon faction (almost always), because assassins and hunters are dangerous even for units of levels 3-4, and if you calculate the health of these units, you get 10 health points, which is equal to the health of archmages (and they are level 3).
In general, it's a strong faction, there's nothing to say about it, and I won't even mention the spells.
In short, Dungeon is in first place among the strongest factions.