thanks, this all seems very promising. I am quite confident looking at these figures that the 100 man well equipped army you described for 32k would mean a well equipped caravan for 16k.
I've worked out a light armour bandit army of 90 men for 120 gold per soldier, ~~ 10k for a lightly armoured army. IMO, a 90 man army equipped with falchions boar spears round cavalry shields MW war darts no gloves worst boots leather soldier helmets etc etc (cheap gear) will be able to defeat a smaller but better equipped army of 49 soldiers with decent chainmails, heavy shields et cetera.
Remember the cheaper gears are usually still quite effective, a falchion is still 30 cut damage (only ~~5 damage less than a Hugely more expensive nordic MW champion sword), a boar spear is still 27 pierce damage, a 2h axe 36 cut et cetera the list goes on.
We'll have to see how this translates in an actual battle however ;).