I wanted to try it as I would have played WHFB in the past, under 4th - 8th edition. Regiments in formation, characters, war machines, etc. When I first heard the rumours I was quite interested, being able to play games with smaller units like back in the days of 4th edition (4 models wide, remember them?) was appealing. While I like the mechanics of 8th best of all versions, it was engineered to require large units which was offputting. So first couple of games was to try out this theory. It just doesn't work the same at all, so I don't think it will be a replacement for WHFB, which to be fair it's not meant to be.
My next game is going to be either as you suggest, or something similar, with units containing the smallest number possible - 5 elite, 10 standard, etc. I was going to play a Lion Rampant style army, stick with small units of 6 or 12, about 4 to 5 units on each side, minimal characters (1 each), no magic etc - just to do as near a comparison to LR as possible - will even pick one of the LR scenarios because I think they add a lot to the gaming experience. I suspect it will play better this way.
I want to give it a fair try before I give up, so 2 or 3 more games at least before I decide.