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Just to confirm, can you actually move if there is nothing in engage range (Inc ff)?
Yes the Engagement stalls after you complete your move.
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What the point in "the nearest" and "base to base" bits really?
A - To stop you moving away and stalling.
B - To make the curse (sometimes) a drawback, by forcing Devastators to CC, or Assault Marines to charge a Tyranid horde, etc. This "insanity" is a huge theme in the background, and it's what's driving the Blood Angels to extinction.
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What if the nearest enemy is on or behind impassable terrain, out of line of sight?
Same as a normal Engagement under those circumstances, you either go around the obstruction or it doesn't matter.
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Is it right that BA would choose ff over cc if the ff target formation is closer?
Could you explain what you mean here more clearly?
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What about scout ZoCs?
Treated as normal. The word "eligible" could be added to the "must engage" rule to clarify this.
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Is it right that opponents can so easily manipulate and bait BA with sacrificial units?
"Easily" is an overstatement, I think. Terribly risky or wasteful if a "baiting" goes wrongly (As more than likely it will, considering the Initiative Rating of a Blood Angels army).