Rankings are based on pangaea/fractal, single player, immortal difficulty, normal speed. Post your rankings (be sure to mention the settings you play on!)
BROKEN
Balseraphs - loki's stealing cities from third party wars is overpowered, Summoner trait puppets multiplying your mages' maelstrom/spectre/domination by 3 at no risk is even more ridiculous.
TOP TIER
Svartalfar - good economy, good military UB and traits, great hero
Luchuirp - turn 1 world spell head start, fireball golems of doom
Sheaim - (Tebryn) starts with death mana + arcane + summoner, can overwhelm the opponents with summons
Hippus - (Tasunke) best rush
Calabim - super units when vampires come online + the economic traits to get there
MID TIER
Kuriotates - best cultural/altar victory civ if you're good at diplomacy. Can be difficult to find 3 great city locations and balance military and infrastructure builds though.
Khazad - (Kandros) excellent traits, good early rush backed with financial for economy, but reliant on slow siege weapons in the midgame
Sidar - shading is nice but either you're doing it early (and sacrificing powerful early high promo units) or it takes a while to set up the infrastructure to produce the high XP bonuses
Clan - I only don't put them in top tier because getting wolf riders is a little luck based, but if they get them they're powerful and their military production is impressive.
Elohim - Tolerant gives them a few more options, moved up from bottom tier
Grigori - adventurers are still pretty strong, agnostic is still a pretty big penalty
Lanun - good economy, average military (the AI is so bad at naval warfare that their naval advantages don't matter)
Ljosalfar - good economy, good defence, generally poor military and hero
Malakim - tends to start with floodplains. Another civ with good economy but mediocre military.
LOW TIER
Amurites - the other Arcane leaders are generally better
Bannor - rather weak until they hit Crusade
Doviello - these guys are just a bad version of Clan
NOT RANKED
Infernal/Mercurians - because they show up late
Illians - who aren't finished
BROKEN
Balseraphs - loki's stealing cities from third party wars is overpowered, Summoner trait puppets multiplying your mages' maelstrom/spectre/domination by 3 at no risk is even more ridiculous.
TOP TIER
Svartalfar - good economy, good military UB and traits, great hero
Luchuirp - turn 1 world spell head start, fireball golems of doom
Sheaim - (Tebryn) starts with death mana + arcane + summoner, can overwhelm the opponents with summons
Hippus - (Tasunke) best rush
Calabim - super units when vampires come online + the economic traits to get there
MID TIER
Kuriotates - best cultural/altar victory civ if you're good at diplomacy. Can be difficult to find 3 great city locations and balance military and infrastructure builds though.
Khazad - (Kandros) excellent traits, good early rush backed with financial for economy, but reliant on slow siege weapons in the midgame
Sidar - shading is nice but either you're doing it early (and sacrificing powerful early high promo units) or it takes a while to set up the infrastructure to produce the high XP bonuses
Clan - I only don't put them in top tier because getting wolf riders is a little luck based, but if they get them they're powerful and their military production is impressive.
Elohim - Tolerant gives them a few more options, moved up from bottom tier
Grigori - adventurers are still pretty strong, agnostic is still a pretty big penalty
Lanun - good economy, average military (the AI is so bad at naval warfare that their naval advantages don't matter)
Ljosalfar - good economy, good defence, generally poor military and hero
Malakim - tends to start with floodplains. Another civ with good economy but mediocre military.
LOW TIER
Amurites - the other Arcane leaders are generally better
Bannor - rather weak until they hit Crusade
Doviello - these guys are just a bad version of Clan
NOT RANKED
Infernal/Mercurians - because they show up late
Illians - who aren't finished