I like the conversions.
I find his list a little much:
- Some points values are off IMO (eg. Ungor Raiders are better than Goblins, for the same points), and there are way too many special rules.
- It's also in Warmaster's style to reduce unit numbers and to give more generic abilities (eg. I would remove Ungor Raiders altogether, and consolidate some of the monster types (A Giant and Shaggoth are near identical as-is)). That list has 17 non-character entries- the highest in any other army is Chaos, with 11. There's no reason you can't use variant models with the same rules (like how Tomb Kings have a Tomb Scorpion model, that can fill in as a Sphinx or Bone Giant).
With a little work I think this could be great.