Call my crazy but I think lacking banners is much more troublesome than lacking a shaman. A shaman saves guys on a 6, but against a phalanx your 2 attacks will be met with a guy with better defense and spear support, in addition to a banner. Unless you beat his fight, your squishy guys on foot will be dying by the wayside.

I think the problem is your list is split between awesome skirmishy guys (who can't shoot but can hit hard) and really mediocre cavalry, but with nothing really else. Azog is a powerhouse but as others have said, there are plenty of heroes that can make his day pretty bad.

Also having 4 heroes at 1k means you will be constantly using your heroic moves from the guys you probably would want to keep them on. Narzug granted gets a free one, but for shooting. So Fimbul and Yazneg will have to be using heroic moves every turn just so you can get the advantage.

Channelled fury save give a 5+ save. Yes that's right 1/3 of all wounded models.

That is true, I forgot about that.