Here's what I have.
Vet #1 & #2 (Flamer, Stormshield)
Vet #3 (Power Sword, Plasma Pistol))
Vet #4 (Power Fist, Banner, Meltagun)
I pair these all with a Captain (artificer armor, stormshield, relic blade) and run them around in a Razorback. The squad costs roughly 430 points.
Here's what happened in the last game I played;
A wrecked Dreadnought blocked a bridge they were SUPPOSED to cross to get over the river. I drop them into it instead; apothecary gets lost to the current. I then attempt to move the squad OUT of the river, say good bye to the power sword guy. The two flamers wipe out an imperial guard squad to one man, Razorback finishes it off. Assloads of return fire from an amphibious craft and some other tank thing with an executioner cannon wipe out remaining memebers and land a wound on the Captain. Razorback pops the watercraft, Captain wipes out the crew, then goes on to immobilize and blow four weapons off the executioner thing.
Here's a match that I played before;
Razorback rushes a necron warrior squad. On turn two it wrecks, the squad unloads and takes cover. I save about 5 wounds between armor and FNP. Squad charges out of cover and attacks a warrior squad, wiping it out. Squad falls back and saves another 15 wounds (combined 40 shots from necron units). Squad works its way westward (running from a tomb spider) and takes 3 casualties along the way. Squad, with captain apoth and fist, regroup after falling out of assault range of the spider, then charge into a warrior squad with an accompanying lord. Game ends before either squad is killed.
It's really hard to get them to make their points worth, due to the short length of a standard game. They excell at doing special jobs though, like taking objectives or wiping out high-threat value units. FNP makes them very rugged (statistically as rugged as terminators).
I'd like to say they're working for me. Their numbers are their biggest fallback, but you can equip the veterans with just about anything you want, meaning the squad can fill any specialized role you'd need them to. They work best paired with the Captain they're brought along for.
I would ask yourself what you need them to do, then experiment with several wargear options. You can get past enemy power weapons by putting a pair of stormshields in the squad or on your Captain.