Rexler Brath, HLC, Outmaneuver. 47 points for a beast that can (theoretically) put down 4 Crits at Range 3 with -1 (-2 for all practical purposes) to agility.
The question then, what do you support him with?
4 Academy Pilot
Engine Upgrade on Rexler
The first natural Imperial response, throw some TIE's into it. This frees up 4 points for Engine, which is great on the Defender, and 1 point for initiative. Simple, effective.
Gives slightly more of an edge if the opponent goes for Rexler first, which is the correct response against this squadron. Problem is if he goes for the Swarm, Backstabber is useless and you'd rather have Engine upgrade on B-dawg.
Basically a better version of the above list; Forces the opponent to choose between dealing with Rexler and dealing with a Phantom+FCS. Most players will choose to take on the relatively squishier Phantom. Is a Phantom worth 2 APs? possibly, probably not...
Personally I think Carnor is underrated and extremely fun to fly; He's the only ship that truly rewards pinpoint positioning and really punishes a turned flank. The only thing that lets him down is those fickle green dice and his piddling 3 HP, which leaves him just outside the competitive spectrum. Is Carnor Jax worth 2 Academy Pilots in the current meta? Sadly not.
Considering Rexler needs some way to modify attack dice or he'll never ever use his ability, Jendon seems the most natural fit. After getting a lock in turn one Brath speeds off to turn the flank while Jendon takes his time acquiring target locks for an opening engagement with every ship firing with TL+Focus. The weakness is that you let the opponent dictate the tempo of the game, as you have to play slow in the opening stages to gain full use of Jendon's ability and title. Also, once Rexler and the TIEs are dead, Jendon is a sitting duck.
OGP + Ion + Tactician + FCS
Probably the most competitive option; Shuttle presents a tactical dilemma; Turn into Rexler and take ion and stress from the shuttle, or turn into the Shuttle and take damage from Rexler while the Shuttle ion and stresses you. Both are bad choices.
Engine on Brath
The comedy option, flying two Defenders is pretty hilarious if you alternate running away and chasing.
BH, Rebel Captive/Recon Spec
Somewhat lacking in overall damage, probably an annoying list if flown correctly but sadly middle-tier.
Echo + VI+RebCap+Adv Cloak+FCS
Fun to fly but probably a little too squishy, and doesn't sync well as a squishy anvil to Rexler's hammer.
Could be interesting, if a little reliant on the alpha strike. Relies heavily on Brath to carry the late game.
Any other ideas?