Now to illustrate the illustration more specifically ;)

You'll have to excuse me if this is out of date as I don't own later reference material, though I have played it (why buy when friends have copies :D ). Anyways, I'm stuck with an earlier version of WH to refer to.

I'll first use High Elven "Warrior Kindred". The description I have states that "...they are usually well armed...", wear light armour and carry a hand weapon.

Is the unit faster or slower moving than the equivalent human norm?
faster
+2 to natural defence (5)

Is the unit more or less skilled in melee than the equivalent human norm?
more skilled
+3 to melee skill (9)
+2 shield defence (4)

Is the unit more or less quicker than the equivalent human norm?
quicker
+ ? to attack speed
+ 1 to natural defence (6)

Is the unit well equipped (ie owns good quality equipment)?
yes
+1 melee skill (10)
+1 armour defence (5)
+1 shield defence (5)

We end up with it looking like this:

Melee attack: 10
Defence: 5,6,5 (total 16)
Some adjustment to make them attack faster than standard

Compare this to a "Dwarf Warrior". The description states that Dwarves are technolgically adept so while this is open to interpretation I am going to conclude their equipment is better than average. They wear light armour and also carry hand weapons (you could just as easily not though, perhaps ignoring the elf equipment bonus I gave too as once again it's open to interpretation). Their point value is the same as the elf kindred too (10 points).

Is the unit faster or slower moving than the equivalent human norm?
slower
-2 natural defence (1)

Is the unit more or less skilled in melee than the equivalent human norm?
more skilled
+3 melee skill (9)
+2 shield defence (4)

Is the unit more or less tough than the equivalent human norm?
more tough
+3 natural defence (4)

Is the unit more or less quicker than the equivalent human norm?
less quick
-? attack speed
-1 natural defence (3)

Is the unit well equipped (ie owns good quality equipment)?
yes
+1 melee skill (10)
+1 armour defence (5)
+1 shield defence (5)

Melee attack: 10
Defence: 5,4,5 (total 14)
Some adjustment to make them attack slower than standard

Finally I'll compare to an Empire "Ersatzsolder", worth only half the points of the other two. There is nothing special about it, it wears no armour, carries a hand weapon and is basically 'average' apart from that.

Melee attack: 6
Defence: 0,3,2 (total 5)

Alternatively, I could bump his point cost to one under the elf and the dwarf by spending on light armour and a halberd:

Melee attack: 8
Defence: 4,3,0 (total 7)

All three are basic units in my version so roughly compare. The TW stats don't look that bad converted this way either and remember that unit costs, upkeep and numerical strength also need to be worked in.

I'm not happy about a dwarf being worse than an elf in melee but that's down to my numbers/interpretation which can and, given this, should be adjusted. Meanwhile they give the idea away so work for what I intended. Plus, showing up that they don't look 100% accurate but can be adjusted is part and parcel of the illustration so I am not going to rework them - it's a better example if I don't.

Note also that I don't account for any extras a unit might have, such as circumstantial bonuses on offensive skill, morale, training or actual better quality gear reflected in the stats (as I mentioned earlier, I have no clue what different quality arrows, for example, actually do). Nor do I know what the numbers I plucked from thin air do in practice, hence them being illustrative only, but I hope you get the gist.

As for particularly weak or strong units, this same principle could also be used to convert them too, although I don't have time to see if they'd work with my wholly arbitrary numbers above. Probably not but the method is what I'm showcasing and that should work, in principle, np.