I would say that E&C's stats most accurately reflect the 40K rules. Whether these are the most appropriate are another matter, I certainly wouldn't take such a beast over a normal LR. If it were cheaper, sure.
As far as the multi-melta goes, we could be justified either with or without the multi-melta. For the "optional upgrade" camp, so are sponsons on Leman Russ, Demolishers and Predators. So sometimes optional weapons ARE standard. For the "it has a multi-melta" camp, it has always been an upgrade unlike the Crusader which traditionally has the Multi-melta. Bottom line - we can include it or not as best suits the Epic rules.
Now, that said, I will fight the inclusion of a multi-melta on any vehicle with a FF of anything other than 5+ - all multi-melta tanks have a FF of 5+ - otherwise you end up with the oddity of a multimelta FF attack that is better than the shooting attack.
It would be possible to do the same trick as the crusader, and give the Redeemer FF5+ and an extra ignore cover attack from the flame cannons and an extra 5+MW attack from the multi-melta.
So:
Land Raider Redeemer Type Armoured Vehicle, Save 4+, Speed 25cm, CC5+ FF5+ Frag Launchers, Assault Weapons Twin assault cannon, AT5+/AP5+ Twin flamestorm cannons, Range 15cm, Firepower 2xAP3+, Ignore Cover AND Small Arms, Extra attack, Ignore Cover Multi-melta, Range 15cm, Firepower MW5+ AND Small Arms, Extra attack, Macro Weapon Notes: Reinforced Armour, Thick Rear Armour, Transport (1 Terminator or 2 other)
with
Land Raider Crusader Type Armoured Vehicle, Save 4+, Speed 25cm, CC5+ FF5+ Frag Launchers Assault Weapons Twin assault cannon, AT5+/AP5+ Hurricane Bolters, Small Arms, Extra attack Multi-melta, Range 15cm, Firepower MW5+ AND Small Arms, Extra attack, Macro Weapon Notes: Reinforced Armour, Thick Rear Armour, Transport (2 Terminator or 3 other)
This would (assuming the multi-melta version of the Crusader) mean the two tanks have roughly equal FF capability (slight advantage to the Redeemer), the Redeemer has superior shooting capability but worse transport. I would say these two would be equal in points should they both be options in the same list.
Now, both of these are probably (slightly) superior to the normal Land Raider. Removing the multi-melta from the redeemer and changing the FF to 3+ as with E&C's stats would certainly be worth less than the current LR.
Which raises the question: do all of the LR variants HAVE to be absolutely equal in "power" so they can all have the points value, or can they vary in power (and points) like Land Speeders? While it would certainly be "neater" to do the former, the latter may be more practical - it allows us to give the units the most appropriate stats and especially since they may have different power levels in the hands of different lists - my Grey Knights for example find the normal LR comparatively more useful vs the Crusader compared with other Space Marines.
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