There's plenty more choice than with Vorlons -
It really depends what you're fighting, though. Generally people tend to go with the battle/raid options - putting a sharlin on the table is nice, but very risky as you're gonna have lots of opponents shooting at one target, and stealth is always going to fail 1 out of 6 times (or chances are, 4 out of 6 times in reality).
I tend to go for: Tinashis (1 or 2) mixed with Ashintas (1 or 2). Okay, they lack fighters and stealth, but are big on firepower.
I've also tried the Morshin/Tigara variant fleet (actually the tournament fleet I tried out at Masters of War was a Morshin, Tigara, Teshlan and 2 Torothas - first time I ever played the game properly on a tabletop) which met with mixed success. The 10 nials did serve to keep all other fighters off the table, except ISA, which I narrowly beat in dogfights due to fleet carrier and outnumbering.
If you're going to take teshlans, take them in gangs - 2AD doesn't go far. If you're going to take Torothas or Tigaras - similarly, go for them in larger numbers. Certainly consider throwing a Leshath into any mixed raid level fleet if you can - they're good.