Personally, I would go with valor units. I would go with a 2 valor Billmen unit instead of a 0 valor Chiv Sergeants(for example).
I think a 0 valor Pavise Arbalester would be about the same as a 1 valor longbowmen. But I'm not sure. I'd go with Longbowmen for the simple reason that I prefer them over Arbies. IMO, go with building more 1+ valor clansmen, billmen etc. I think they do a lot better job than FMAA with no valor.