I've been doing a lot of number crunching to try and determine what the most efficient upgrades are to improve damage output. I am far from done, but so far I've learned a few things:
Warlord by itself is garbage; Warlord with H9 is okay efficiency wise. From an absolute damage perspective, it's great, almost doubling the expected value of damage of a VSD's red dice. Turbolaser RRC is even better efficiency wise, but doesn't increase expected value as much in an absolute sense. But, TRRC you can throw on almost anything and get a good benefit, and on the rebel side you can put it on lots of ships because you don't have to pair it with Needa.
Ordnance Experts is the most efficient upgrade in the game if your ship is throwing four black dice. The next most efficient is SW-7 on an ISD-II.
Now, I just said that and you're thinking: what about Screed and ACM? Well, ACM by itself is just slightly less efficient than than say SW-7 Ions on an ISD-II and about a fifth less efficient than the Ordnance Experts on the side arc of a GSD I, when used on a ship with four dice in a shot. When combined with a reroll ability like Vader or Ordnance Experts on a ship with four dice, it's the most efficient upgrade compared to all the others I've calculated so far. Screed actually only improves the EV from 1.79 when using rerolls to obviously a value of 2. Is that worth it? When you could be taking Motti or Tarkin instead, i think it's not as clear cut as you'd think, now that Ordnance Experts is available. And, when you consider OE raises the EV of the other black dice in the pool, it's the clear winner if you're throwing 3 or more black dice and want ACM to trigger.
Also, interestingly, Enhanced Armament adds 2 black dice, so +2 EV on a Glad side arc. Or, you could take OE and ACM and get +2.79 for 2 less points. Or, you could really big a big spender and go with Vader or OE and get +3 EV on a Glad and put all the damage into one shield segment. Is it worth it? I love the fact that the best answer is "it depends...".
Leading Shots is really good on the ISD-I: it's improves the base damage as much as Ordnance Experts would, but it improves the red dice too so you can hit harder at range. This combo seems to be one of the strongest offensively IMO. The downside is you can't take ECM on an ISD I...
Finally, for damage per shot, the effecient upgrades are much more efficient than adding another ship naked ship. Granted activation economy, blocking, and extra shields/hull may outweigh this, but if you're trying to sling the most damage alone then some damage upgrades will get you there more efficiently points wise. This might be Vader's big benefit, he makes naked ships good and fairly efficient damage wise; you just need to make sure to bring enough ships you're getting enough bang for the buck with Vader.
What have you guys discovered to be efficient? I haven't even delved into the most efficient defensive upgrades or looked at synergies involving accuracies or defense tokens. Or commands (do I want 2 more shields on my ISD, or do I want to throw another red die for +.75 EV?)...
So far, though, the game looks extremely well balanced. They were clearly crunching numbers when they were designing this, and it shows.
Because of that, the keys to the game seem more to be building a list that is designed to execute certain strategies well, and then executing those strategies on the table. Conversely, if you can force your opponent to use a list he designed to function one way a very different way, you have a good chance of winning.