Since GenCon, a lot of debate has gone back and forth on the No-Squadron lists. People have theorized that lists fully devoted to Squadron support could be the hard counter, since none of the finalist no-squadron builds faced off against heavy bomber lists.
To test out the theory, a friend and I played a game where I fielded a fairly solid list of 3 Imperial ships against his 3 rebel ships, along with 4 squadrons of X-Wings, 2 of Y-wings, and 2 of B-Wings. Here's a better look at the lists themselves.
(We figured out midway through that his list didn't actually work, since he brought Expanded Hangers on his Nebulons, who he didn't realize can't take offensive retrofits. But, it worked alright for testing the theory of bombers vs. ships)
Imperials
Victory-II Star Destroyer
Leading Shots
Defense Liason
Grand Moff Tarkin
Victory-II Star Destroyer
Leading Shots
Defense Liason
Gladiator-I Star Destroyer
Assault Concussion Missiles
Defense Liason
Demolisher
Rebels
Nebulon-B Escort Frigate
Yavaris
General Dodanna
Expanded Hanger Bays
Nebulon-B Escort Frigate
Salvation
CR90 Corvette A
(4) X-Wing Squadrons
(2) Y-Wing Squadrons
(2) B-Wing Squadrons
Now, both of us are still relatively new to the game, so we both made some very noobish mistakes. I spread my ships out too far in deployment with my flagship at the edge of my ship line, and he counter-deployed heavily to the flagship's side. But, he overextended his squadron support ships and lost the ability to support his bombers with squadron commands. In the end, I believe our mistakes balanced out our overall experience with this match fairly well.
Here's a view of our game after the first round (forgot to take a picture at the start).

With the minefields set as they were, I realized I couldn't move my flagship up without him taking damage (I'm still getting used to the distance a Victory's fat rear can move, as I began this game playing the rebel side with nicely speedy and smaller Corvettes on my side). So, I slowed him to speed 0 at the very start of the game. I knew the danger in this was that I would lose my brace and redirects. However, moving forward would have let my flagship take 4 blues to the face, and put him within striking range of the enemy bombers without any support from the other two ships. Keeping him still bought time. I really, really should have deployed him closer to the space station, I realized later, with his front facing more towards the enemy fleet. Since I deployed him second though, and I didn't realize he was going to overload that side, it is sorta one of those "hindsight is 20/20 things".
My Victory and Gladiator turned and made all speed to intercept the Rebels. In hindsight, I wish I'd downgraded my flagship to a Victory-I and upgraded my Gladiator to a II in order to get some extra anti-squadron fire. It may have changed the outcome of the game. His fleet moved up in a semi-solid group, though as you can see, his ships were beginning to outpace his slower squadrons, especially the speed 2 B-wings (which he severely underestimated just how slow these were).
In the following turns, my flagship was able to tear apart his Salvation Nebulon-B, splashing it by turn 3. His surviving Yavaris and CR90 both made hard rights and went behind my Victory. Before the Salvation went down, it was able to activate 4 of the nearby bomber squadrons (token + command, and the "illegal" expanded hanger bays). These ships took the shields of the oncoming gladiator down dangerously low.
Unfortunately for me, the poor starting position of my fleet left my ships unable to help greatly against the enemy ships. That ended up being the theme of the game.
To my credit, my Reactive-Imperials build (which I described in another topic posted in the army builds sub-forum) worked very well. Tarkin's free tokens allowed my Defense Liasons to change commands whenever I needed them. The solo Victory flagship lasted six turns of combined fire from the smaller rebel ships, using repairs to replenish shields and hull points when needed.
This game also introduced me to an interesting tactic: The Demolisher's Anti-Squadron Tempest of Fire. Had I brought it as a Gladiator-II, I'm certain I would have won the game. As it was, we ended the game with him having lost a couple of squadrons, and most of the rest at 1 or 2 health. Basically, the Demolisher approached the large cluster of squadrons antagonizing my non-flagship Victory. On my opponent's initiative turn, he ended in position to fire at five of the enemy squadrons. The Salvation commanded the other squadrons to attack the front arc of the Demolisher, who took the hits to the face and suffered about half its shields down on each facing (B-wings hurt! D:). The Demolisher, on my initiative next turn, fired his anti-squadron fire from his front arc, moved forward directly to the other side of the squadrons, and fired out its rear arc at them all. I'm quite certain that, had I had a Gladiator-II, this one turn would have seen the end of all of his squadrons, apart from maybe a few of those beefy Y-Wings.
Lessons Learned:
1. Mines suck.
2. Demolisher can setup for a devastatingly awesome anti-squadron attack.
3. Squadron-Support ships need to slow down to be effective for their squadrons.
4. Mines really suck.
5. Reactive-Imperial build very effective, especially for denying kills on injured ships.
6. As effective as ship-concentration builds are, spending a few points to throw in a couple TIE-Fighters to weaken solid-bomber lists is definitely a prudent investment.
7. Oh yeah... deploy my flagship in the middle of my friggin' fleet! D:<
Let the comments (and the inevitable critiques) begin!