A NC in isolation has only a 2/9ths chance of doing any damage past shields for each shot. They have an expected damage value of 1.4 hits per shot.
Torpedoes have an expected damage value of 1.67 PAST shields, plus subsequent damage to other vessels in the line of fire, and can be near-certain to hit a directly closing battleship at a range of more than 100cm.
Plus you pay 10-20pts for the privilege of taking the NC.
A strong fleet at 500pts could be:
Lunar Class Cruiser
Dauntless Class Light Cruiser
6 Swords
500pts dead.
There are several reasons this is a good list:
#1. At small points, escorts bring significantly more firepower than a corresponding value of cruisers can manage. In this case, FP 24 comparatively to a FP12 broadside. IN Cruisers depend on getting in the middle of an enemy fleet and firing both sides to make up this diference - against only a few targets this becomes less likely.
#2. Dauntlesses are really at home in small points, and a lance variant barely feels the effects of being crippled.
#3. At small points, if you screen your escorts and Dauntless with the Lunar, the enemy is unlikely to be able to concentrate enough firepower to get past the 6+ prow of the Lunar in time to prevent your heavy-hitting lighter units pouncing and doing the most damage where it hurts.
To expand to 1000pts, you could do the following:
+ Armageddon class Battlecruiser
+ Dictator class Cruiser
Lunar Class Cruiser
Dauntless Class light Cruiser
- 3 Swords
+ 3 Cobras
+ 50pt Admiral
1000pts dead.
There are a few reasons for steering clear of the Dominator/Overlord/Tyrant: You'd be much stronger with torpedo boats at these point levels, and all 3 cruisers use up all the WB parts, necessitating a Gothic which itself does poorly unsupported and also uses up all the lance bits, preventing you from using a Battlecruiser.
The Lunar is a good jack of all trades, and I don't think you could possibly go wrong by having too many Lunars.
The Mars is very expensive, and the NC doesn't really lend itself to small points battles. The Dictator is cheaper and has good synergy between Torps and AC (launch both against a crippled target at point blank range and cackle at the debris field that results). The
The Armageddon is based off the Lunar hull and easily beats both the Mars and Overlord as a gunboat hands down, and once again you add a substantial weight of torpedoes to your fleet.