Vs Minbari:
Interesting one. Shadowcloaks a-go-go are a must for the stealth, but you're not likely to be suffering a major numerical disadvantage, nor are the enemy boresight-equipped, so the initiative sinking is less important.
Use your fighters defensively. Black Omegas and Shadowfuries can go toe-to-toe with Minbari fighters, but the amount of advanced anti-fighter a minbari fleet can put out means that agressive strikes are unlikely to achieve much. On the other hand, with your own not insubstantial quantities of AF dice backing up high quality fighters, you should be able to fend off nials without too much trouble.
Motherships are, as noted, awesome ships. With a big range heavy laser for a raid ship they're a great sniper, and with stealth and a big chunk of hit points rather than armour they're well suited for the sort of fire coming in from Minbari warships.
Vs Dilgar:
Ok - swarms of medium-weight ships looking for a close-ranged bruising.
At long range, stealth plus interceptors should be sufficient to minimise the risks from missile salvoes, but at close quarters bolters will hurt a lot. Torpedo fighters are very nasty and massively outrange capital ship flak, so keep those fighters on top cover.
They'll be a tough fight - Psi-Corps excell at deflecting long ranged intermittent pot-shots but tend to fold if punched hard up close. Your EA allies will be fairly crucial.
The Hunter is a key ship - it can outfly any Dilgar ship its own size and many smaller ones, and if you can drop in on their flanks and rear their ludicrously concentrated forward guns become an advantage rather than a penalty.
Vs Vorlons:
Um. Universal adaptive armour. Very manouvrable for their priority. AAF on all ships and even fighters. Fighters whose weapons outrange your AF. All in all, not good on paper.
The good news is that, again, you'll have numerical edge, especially with shadowcloak initiative sinks.
If you can use that to stay out of their frontal arcs you may minimize the amout of horrific blazing electric death you suffer but that will only really work with more agile ships. The mothership is kind of an inevitability and you must, absolutely must, get those heavy lasers firing every turn.
Concentrate everything on one ship at a time and reduce it to calamari before switching target. This is good advice anyway, but crucial with First Ones - with their uber-repair abilities (especially with the new Regenerate special action), give them one turn unmolested and a battered wreck on one hit point can suddenly be right back in the centre of the fight.
General:
Nemesis are awesome ships if shielded up and allowed to use Track that Target! and the redundancy rules. However, with only 10 battle points to play with, I wouldn't get one in your initial fleet - it's half your allowance (nearly) as opposed to 'a bit more than a warship' if bought with RR points later.
I'd re-iterate Greg's point - your allied EA ships are crucial; the Psi-Corps fleet includes scouts, snipers, flankers, but no real ship-of-the-line below War priority. The EA provides the tough, medium range bruisers that go straight up the centre and beat the enemy to death with their own corpses.
Hyperions, Nova/Tantalus, and Omega Destroyers are all good ones to consider, although with only two battle points to spend the omega is possibly a bit too much invested in one brick.
The Tantalus is a particularly good buy, since in addition to a nice brawler it provides you with a troop-heavy, shuttle-equipped vessel for the inevitable planetary assault mission; something Psi-Corps struggles with on its own.
At the same priority, the Avenger gives you a fleet carrier - not crucial given you can't recover black omegas or shadowfuries, but still enough to make your existing fighter advantage verge on the ridiculous. Also, loading it out with thunderbolts gives you long-ranged, atmospheric-capable assault fighters - another useful asset since you can then sweep with the black omegas and strike with the thuds.
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