So I'm breaking out my Armada for the first time this holiday season ( I have waited since late June, nuts, I know). I've been playing lots of X-Wing and I have kept my Armada set (I got due to an amazing CSI sale) wrapped up, but a friend and I are going to give it a first time spin soon. With the components denoted below in mind, I would love to know a great point total/build for the two factions that will give us both great game flavor (we'll swap factions a number of times as we try and digest the game mechanics; but know that I'm an Imp at heart). If there is something sorely missing, I could possibly get to my LGS and get an item, if I had to, haha:

Star Wars Armada Core Set
Star Wars Armada Dice Pack
CR90 Corellian Corvette Expansion Pack

Nebulon-B Frigate Expansion Pack

Victory-Class Star Destroyer Expansion Pack
Imperial Raider Expansion Pack

Imperial Fighters Expansion Pack

With Wave 5 coming out I would recommend getting the wave 5 Imperial Squadrons 2 pack and the Imperial Light Cruiser Expansion pack. You could make some interesting lists with those additions.

For your raider and anti-squadron the phoenix home expansion pack would give you some interesting items for your existing ships.

The go to for the Empire is the gladiator and is almost a must have because of demolisher.