I only found this one very late, but i glad i did, because i play both TK and LM! I think 520 pts is spot on. It is very expensive, but you are really getting a lot back for it. When compared to LM, TK have a lot less resilient casters, but having Hierophants makes it still very important to have your wizard alive. Being a loremaster is also big, there is only one other TK char that is that, and he is way to expensive to be playable.
I somewhat dissagree with the people in this post to individually give points to his different parts of his kit. I mean, i get it is fun to do, but he should be looked at as a full picture. To give a simple example, giving him a sword giving +4S wouldn't even be that good, as he would not be able to use it. His value for it might only be 5pts, or even 0pts! If you would put the same sword on a CC lord,,, you see where i am going with this.
I think putting him in a comparable price range of Setra is pretty reasonable. He is a better spellcaster, and a lot worse in close combat, but has some versatility in the scarab abilities to make up for that. He would be a backlining lord, which as a spellcaster is totally fine. His defensive qualities, like the ward save, might give him that one extra turn in combat if his unit gets in jeopardy. I think that at 520, he would be a great versatile center point in a bowline type of list, with caskets and some more mages, the spellcasting bonegiant, some sphinxes and the stone throwers.
