I haven't got any of the new rulebooks yet but know about the warband rule. Does the 50 troop limit for 500 pt games still exist?

Anyway here's a Goblin force I put together:

Durbûrz, the Goblin King of Moria - 60 pts
1x Cave Troll w/Troll chain – 85 pts
7x Moria Goblin Warriors w/shields – 35 pts
4x Moria Goblin Warriors w/spears and shields – 24 pts

Moria Goblin Shaman – 45 pts
6x Moria Goblin Warriors w/shields – 30 pts
6x Moria Goblin Warriors w/spears – 30 pts

Moria Goblin Captain w/shield – 40 pts
5x Moria Goblin Warriors w/shields – 25 pts
5x Moria Goblin Warriors w/spears – 25 pts

Moria Goblin Captain w/Orc bow – 40 pts
12x Moria Goblin Warriors w/Orc bows – 60 pts

Total: 499 pts

50 troops

no the limit isn't in force any more, the only limit is 12 warriors per 1 hero per the warband rules, your list looks fine under the new rules anyway though.

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generalship is easy just point your troops to the war

The force looks fine. It seems to be a rather basic goblin force- no real changes to suggest at this level. And no, the 50 model limit is not for the warbands, only LoME.

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"...in the end the Shadow was only a small and passing thing: there was light and high beauty for ever beyond its reach.”

Just three comments here:
I love "simple" goblin armies for theme, so I like this!
Why are the four goblins w/sh + sp 30 pts?
I'd suggest evening up so that your captains/durburz have spear backup too, especially in your first warband as you want them fighting and goblins should make the most of spear support with no banners. So if you are limited in models I'd at least swap some spears from your other bands to your primary one - after all the goblin king with an extra attack is a good thing!

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My LotR and 40k blog, Realm of Battle board, dwarves, gobs, space wolves and battle reports. http://simbattleboard.blogspot.com/

I would swap out durburz, a captain, the troll chain, and the bow on the captain for Groblog and a shaman. 5+ fury is the bomb (and with 2 shamans u dont need durburz's big standfast)

*Edit: here is a list I made in a previous post
Groblog
5 goblins with shields
6 goblins with spears

Shaman
6 goblins with shields
6 goblins with spears

Shaman
6 goblins with shields
6 goblins with spears

Captain
11 archers

Shelob

500pts
51 models, fury (covering everything), 7 might, and a monster that will kill anything at this point level

Drop the shields from the goblins with spears and get another goblin. Drop the troll chain and get another goblin. That would max out your other warband and give you 2 more models. Of course, if you want a list overhaul, just take shadowswarms advice.

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"Leave Sauron to me."
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you dont have to take shelob btw, if you dont have her/ you dont want to use her, then just put in a troll and get another 2 goblins. or take one goblin and give some of your archers spears, then you can use them as combat troops (well, i still use them as combat troops with no spears, but it will help them a ton)