I would have to stand my ground and say it really is for big armies but I agree also if you really want to work it hard you can get stunning results. (though I do feel that is missing the point of it which is it is a tool of speed not finesse.)
I agree totally, what I was trying (probably badly) to say was what you just said, only you put it better!
I have painted quite a few ancient armies, what I did was..
white undercoat
block colours
dip
done!
Heres a few examples


To be honest I think they came out well, I managed to knock up a few armies relatively quickly, which as has been quite rightly pointed out is the point of the stuff!

Steve