Theoden has always been one of my favorite heroes just because his ability is so odd and unique. Building a good deck around him has been tough but I finally built one that really shows just how amazing he can be. To be honest solo the deck doesn't work as well because a lack of essential leadership abilities. Overall though I have beat the whole HoN cycle and expansion. Which I found most interesting because I did not change 1 card in my decks and had no trouble alternating between siege, battle and normal questing which is something that can generally cause a bit of trouble.
First deck, Heores - Theoden, Mablung, Glorfindel
Allies 21
Vassal of the Windlord x3
Winged Guardian x3
Descendant of Thorondor x2
Landroval x1
Gwaihir x1
Eagles of the Misty Mountains x3
Westfold Outrider x2
Blue Mountain Trader x1
Westfold Horse Breeder x2
Riddermarks Finest x1
Arwen Undomiel x1
Attachment 15
Unexpected Courage x1
Support of the Eagles x2
Bow of the Galadhrim x2
Rivendell Blade x2
Steed of the Mark x3
Black Arrow x1
Light of Valinor x3
Events 15
Elrond's Council x3
Feint x2
The Eagles Are Coming x3
A Test of Will x3
Foe Hammer x3
The Galadhrim's Greeting x1
Deck 2 Heroes Theodred, Beravor, Haldir
Allies 16
Gandalf Core x3
Faramir x1
Master of the Forge x1
Gleowine x1
Galadhrim Minstrel x1
Warden of Healing x2
Hennamarth Riversong x1
Pelagrir Ship Captain x1
Dori x1
Elrond x2
Galadriel x1
Gildor Inglorien x1
Attachments 15
Asfaloth x2
Wingfoot x3
Steward of Gondor x3
Celebrian's Stone x1
Protector of Lorien x2
Thror's Map x2
Lembas x2
Cram x2
Events 18
Sneak Attack x3
Loriens Wealth x2
Mithrandir's Advice x3
Tighten our Belts x2
Secret Paths x2
Campfire Tales x3
Striders Path x2
Radagasts Cunning x1
Basically I attach Steed of the Mark to Mablung and Theoden and with SoG and Mablung's resource generation plus Theodred I never lack for resources on them. Between the two tactics heroes they can pay for all the expensive Eagle allies and Support of the Eagles really buffs up their power. With Steed of the Mark and LoV I can quest for 9 and have all 3 of those heroes still ready for combat.
The second deck is basically a support deck that basically has everything the other deck lacks. Card draw, healing location management.