Models look good. Really interesting to see some new themes being explored that weren't in the movies.

Yes, some new Dale people would be good ... I think Bard's grandson Brand becomes king at the time, so presumably he might be due for a model too?

Would like to see a supplement based on Thranduil/Galadriel cleansing Dol Guldur at the end of the War of the Ring too.

I always wondered how GW would do the warriors for something like this. Make it based on Army of Thror or Iron Hills. I suppose Erebor Reclaimed was the natural place for it give the name. This will make it more of an army list as opposed to a legendary legion with delusions of grandeur.

Getting Thorin III is a surprise, but I'm glad for it despite his weird looking weapon. He definitely is adding another name to the list of powerfully special ruled dwarven heroes.

That said, I hope GW has got something else lined up for the Easterlings besides a new named hero to lead this campaign. As it stands, I can't see Easterlings and Khand being able to mount much of a challenge to Iron Hills warriors, these two heroes, whatever is left of Thorin's company, plus Brand and the men of Dale.

The red axe comes from one sentence in appendix A, "Up the stairs leaped a Dwarf with a red axe. It was Dain Ironfoot, Nain's son. Right before the doors he caught Azog, and there he slew him, and hewed off his head."

It could be the axe was red, or just red with blood from the battle Dain had been in prior to confronting Azog. Interpret it as you want.