I painted a Lord on Stag for my Wood Elf army for fun this month.  It certainly won't be for effectiveness in the game, where this guy runs over 240 points without any magic items, and has a ton of restrictions as well.   He was fun though, and is converted using the Privateer Press Raptor model and the High Elf Noble kit.  I'm going to run him in a few games after Scarabcon, just for fun.