Lords level wizards

I thought about starting an warhammer fantasy army quite some time ago and have now finally decided to start dark elves thanks to that recent WD battle report. So i know pretty much what i want in the army but one thing in my mind is still unclear. Should i take an dreadlord or an supreme sorceress? I would like an able magick caster, but would allso like one of those rock-hard, super combat nasties(dreadlord on dragon).Maybe buy malekith as he is both, an super wizard and an super fighter(thou i would need to chande the dragon, the current one is so ugly!). So what do you thin i should choose?

DE are one of the few armies able to dominate every phase of the game, and while very powerful aren't considered to be the broken level of daemons or vampires.

DE magic is indeed very potent, perhaps the best in the game at the moment - almost every spell is always useful, and with very low casting values
I my self perfer a more cc built with a lord on a dragon, and who can't resist that wonder plastic HE dragon model! Hatred is brutal - a lord on a dragon should be dishing out 10 rerollable S6 hits.

Honeslty I would suggest playing at smaller point levels first and figure out which you prefer a cc fighter or a caster. In the end, you could simply by both.

If this is your first go at a fantasy army I would use a caster. Using a caster would really help you to enjoy every aspect the game has to offer, plus it is a smaller investment money wise. You can always pick up a dragon later if you find you really enjoy fantasy and want to expand your army.