I use a full squad of 15, the nob with a tank hammer and boss pole, all riding in a battle wagon with 4 rockit launchas, repair grots, and a death roller. I use them to cause mayhem on the enemy and they are usually just off center of my army.
I find the bomb squigs to be funny but not really effective, although the squigs essentially give the nob a shooting attack as he is carrying the tank hammer. Loosing one squig a turn seems to work best as it can target a different target than the rest of the squad.
As for the glory hog cure, dismount the TBs on the wrong side of their BW, this way their own BW blocks line of sight and the TBs can now fire at that pesky infantry squad rather than have to shoot at that parked bait rhino.
I have thought about using three squads, but in the size games I usually play they would be almost the whole army, so I use only one squad. (not to mention I would have to build two more squads)
For the other elites I would recommend a full squad of lootas in a BW. They have superior range and are good at shooting down enemy aircraft. The BW doesn't really move as it is just cover for the loota boys, so no extra stuff on there and just a pair of big shootas for weapons.
My two teef