I went to a tournament with them, and as you can see in my signature, I didn't do that bad
I was the best Good player.
My army was: Thranduil, Legolas and Rumil with 36 Galadhrim: 12 w/shield, 11 w/spear, 6 w/bow, 6 w/bow&spear and 1 w/banner. I took 4 deployment drops in the form of Merrin, Eowyn, Fatty and Lobelia.
I'd say Thranduil and Rumil are auto include for a good Galadhrim army. Legolas is an option, he has to be lucky to get that awesome shot.
The main problem I faced with this army was that you can't kill anything. This due to the lack of uber-heroes, S4 and/or multiple attack models.
There was a time, before Monsters rules and Warbands that they were one of the strongest armies in the game *sigh* good old days.
I have to disagree with black1blade on the throwing daggers. Now that they are 4+ instead of 3+, no longer worth these 2 points. But you could field some with spare points.
You might want to think about adding Tauriel with Palace Guards (all w/spear is optimal) to get some F6 and a real combat beast.