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Ok, I have a spreadsheet for weapon, armor, and unit stats. On default gear evil has the advantage, Ologs are great, and Uruks with the exception of Gundabad have an insane amount of health and damage. However if you're willing to grind and give your units mithril tier gear(20 protection points), suddenly Elves, and Dunelnding Berskerers are on par with the Uruks assuming the Uruks have Mithril tier gear too, not factoring damage those units will take the same number of hits to kill. If you take damage into account the Elves will deal more damage than the Dunlendings and will match Black Uruks, Isengard Berserkers(Not Uruks there is a difference in stats) will deal 1 more damage assuming that the units are using weapons of their faction. So maxing gear helps cover the imbalance and then it's health values that matter and not armor points because they all have the same armor points. Isengard Berserkers are the single best melee unit in the game. As for maxing the gear out, some of you might say "Who would do that? It takes WAY too long". Anyone who is serious about winning would do that, the grind isn't as bad as you might think, I've done it. At the end of the day though, good factions are underpowered upon examining the statistics. I'd reccomend nerfing the Isengard Berserker Cleaver down to 7 damage instead of 8 and that would put them on par with the elves. Next Mordor has Olog-Hai, good doesn't have anything, I'd suggest that good could hire ents but they have the whole fire-axe weakness thing and Ologs don't have a weakness. So my reccomendation is nerf the Ologs and make Ents hireable. Also give the ents AoE because Ologs have it. Finally, buff Rohan to be on par with Gondor and buff mounted units on horses, maybe you deal 3 extra damage when attacking while on a moving horse, it has to be moving, this would make horses be as good as rhinos and with some AI tweaks to mounted units make them much stronger. This should also be done for elks, boars, and wargs. For anyone who got this far and read the whole thing, you are one hell of a patient person to read the entire wall of text.
We usually consider something unbalanced when one side needs to put in considerably more effort/resources just to achieve the same results the other side has by default, so i would consider this extremely unbalanced, even the Elves who are the best Good faction can't match the standard evil units, as they are out of the box, without the player giving them a boost, as for Gondor and Rohan they are a joke, any human faction is just leaves on the wind against any orc faction.