My personal favorites are:

Warriors:

Hitash Levat - The classic chargeing wham-bam beatstick. He has excellent damage out put, his vampirism helps him survive bunches of weak MS, and his range helps agaisnt melee that is stronger then him (not too often, but still useful). And if you can get him up to Charge, he will be commanding the dungeon.

Geddion Longblade - Another great warrior. If you are confident in your WM rolls and want some cextra charge, he's for you.

Sham-rin - PA is a great ability. She is also dirt cheap, and at higher levels becomes a force to be reckoned with.

Sunbane - His lightning gun will shred almost anything you will find in a dungeon, and with it's long range, little will get a counter. He also gets a touch of Necromancy in case you need to bring someone back from the dead.

Darq the Corrupt -Yeah, you've heard of him already.

Thieves:

Zenephret - Cheap, fast, and with all that a thief needs. If you need treasure fast use her, but if you wan't someone to fight with...

Erlin Boltripper - An excellent fighter/thief if you can stand the slow movement. Although some might think his speed is way too low to make him useful, he is a great fighter, and nimble really helps.

Hazna - Another great fighter/thief, a mediocre range and venom make her really deadly.

Mages:

Lord Andreus - Hands down the best MBer in the dungeon, this guy will come out blasting as soon as he gets in the dungeon. Just awesome.

Chlerics:

Astrus - The best healer in the game, he also doubles as a strong ranged sniper.

Shaman Og - Better at fighting then he may be at healing, after he get's Charge he is nieh unmatched amongst the normal healers in the game.

Noteable others:

Chromazar - His MB is viciouse at lvl5.
Kzar Nabar - Never drops below 10 AV.
Patchwork - I've heard a lot about him, never played him though.
Priestess Wylune - MC is killer, as is 18 Defend.

Hope my opinion proves helpful, and good luck!

Steel_Storm if you are just getting into Dungeons and don't want to blow a bunch of money on Starters, Boosters, singles, etc, to get the particular "great" figs, the best way to go would be to buy the Mage Knight Dungeons Heroic Quests set entitled "The Citadel". This set should only run you about $15 US dollars and your local game store can probably still order one from their distributor. If not, you might be able to snag one for under $10 US on eBay.

In this set you will get 4 Heroes (Astrus, Sunbane, Jess Blacklock, Erlin Boltripper) and one Unique (Captain Salidar)and the Heroic Team at first level equals exactly 100 points. Now I am not going to tell you that this team will win you a tournament. But it is a solid team that will give you a basic understanding on Dungeons Hero tactics. The best part of buying this particular set is the fact you get Astrus, my favorite fig and arguably the best fig in Dungeons. There is a second Heroic Quest Pack named "MageStone Mines" which is decent as well.

okay, you need, if you want only one team, and you like to win...

Darq the Corrupt
Vija of Vladd
Astrus

it's that simple... ;)

jgklaw, I just played that team last weekend... Used to use Hitash instead of Darq, but only cause I didn't have him yet...
After a few level-ups, Darq took on Gate Lord and made mincemeat out of him. It was good...
Here's another 150 point team:
Darq L1
Vija L1
Astrus L2
Hitash Levat L1
Zenephret L1

This team can pretty much take on anything that thrown its way, and if you want to go 200, just toss in Sunbane...

WHAT IS WRONG WITH YOU PPL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

j/k

How come no one has mentioned Phreggs, or did i miss it????

Phreggs is a 1337 theif

my fav team is

DARQ
ASTRUS
PHREGGS

I dont remeber the pts and lvls i run them at though, its been a long time since ive played.

Also Seeker Mock makes a gret thief too.

From the original set I like Lord Oren, a good mix of offensive support and attack. Morg Bloodspiller makes a great attacker/healer. Most of The Necro figs from the Heroic Quest pack are good, esp. Astrus.

rjrt, I agree that Phreggs is a good thieff... but Zenephret has always been my favorite thief.

blytzd, you're totally right about Morg, he's great...

Here's my most recent attempt at a "theme team":

Morg Bloodspiller L1
Kamune the Mighty L1
Sunbane L2
=99 points

... they're the only troll heroes I have so I figured what the hell, I'll try it...:D
They worked VERY well, surprisingly! Slow, but I sort of got around that by putting a whole bunch of teleport squares in while we were dropping terrain tiles. Also, I realized right from the get-go that there's a complete lack of thieving ability, but these guys are more than tough enough to handle whatever Mage Spawn might pop out of those chests. Verdict: great fun!!