Interceptors and thier load out.

I've been using a 10 man squad of interceptors in my army for quite some time but I feel I may be using them wrong. Currently they are geared the same as my strike squads with a pair of psycannons, psybolt ammunition and swords, the justicar wields a daemon hammer in case of armor or high toughness opponents.

For the sake of try outs I was going to switch the cannons for incinerators, my only turn off to that is they are worth DOUBLE the cost of psycannons.

It really depends on what you are using them for, what the rest of your force is doing, and who you opponent is Brother.

If you want to have a highly mobile firing/support unit then your load out is fine. But if you want to get up close and personal the the incinerators are a great choice, They will start to earn their points back when they start roasting your enemies   

I really like them to contest/capture objectives on the last turn. My choice for incinerator or psycannon depend on the army I am facing

Most people seem to play Psycannons on Interceptors and save the Incinerators for Purifiers because they are free.

I used to all ways play mine with 10 men, psy bolts and psy cannons, hammer on Justicar. Now I am going 7 strong, psy bolts, incin and hammer. Reason is points. More options if I save the 3 bodies. 5 Interceptors will not last long (combat squaded 10 man squad) so I run 2x 7man squads, and a dreadknight. 7 men can get around the board better then 10 (room to land) and S5 will destroy most rear armour of Vech when you are shooting 12 shots and a S6 incin.

The tactic I use with my interceptors is use them as a first-strike squad, firing off their shunt ability to get within enemy lines and take out a troublesome target or two before they are snuffed out. They've done well and earned their points back every game but I still feel like they could do more, I'll be ordering incinerators to replace the psycannons and see for myself if that will make an improvement. I'll have to juggle around the extra points to fit them but it won't be a huge problem.

They have more tactical flexability then that Andarius, yes some times they will need to strike early, but if supported right they should be able to get through the game without being snuffed out. I know that you are not just throwing them away on a quick kill, but lets face it, even if they dont warp jump up the board they still have great firepower and are one of the most flexable units we have providing some much needed board controll. Haveing them go down in the first couple of turns gives up that board controll.
I find that they work best as a counter strike unit (same as jump marines) and use the shunt move more for rapid redeployment early game or objective denial late game. With their firepower and movement you should be able to move into a position where they can take out a piece of the opp force without the opp being able to bring enough fire on you to take you out. This takes a lot of pratcice and knowing your opp armies helps a lot as well, for example eldar are a lot harder to do this to due to their faster movement.

10 Man, 1 Incinerator, 1 Psycannon, Justicar w/ Halberd + Psybolt Ammunition

Reasoning is that you could combat the squad and the Justicar will have an edge with challenges. They will be anti infantry unit and so putting a hammer on them for me is a waste. Since I play them in an alpha strike-y list they're backed up with NDK and Mordrak's unit, as well as Psyflemen Dreads to take care of vehicles and pesky mettle boxes.

I've started combat squadding mine with both incinerators in one unit. When fighting medium infantry they can happily kill a squad after jumping, preferably tau pathfinders, elder scouts or T3 characters.

Meanwhile, the other squad shunts to wherever the terminators deep strike to, along with the dreadknight, to overwhelm a section of the enemy line. If i'm up against 3+ save heavy infantry the incinerators tend to be held back until turn 3 when they kill a few models before the terminators charge.

The only thing I tend to charge them against are vehicles or weak daemon units; they're just not very good in close combat. Given the jump packs, there is no reason they should ever be assaulted unless it's a strategic sacrifice.

I'm not really a fan of splitting my squads up into 5-man units, I prefer my firepower concentrated and direct and dividing my squads makes those punches weaker. Although I have been reading our rulebook and incinerators do add a bit more survivability to our squads when assaulted as they can be used in overwatch.

By comparison the incinerator is guaranteed to hit at least 1-3 enemies before melee begins. Where as psycannons need a 6 to hit for the weapon to even be useful. I am aware that close-combat is something we should avoid but at the very least the incinerators offer greater defense in case my targets survive the first salvo and try to retaliate.

I'm not really a fan of splitting my squads up into 5-man units, I prefer my firepower concentrated and direct and dividing my squads makes those punches weaker.

While I'm with you as far as kill point games are concerned, why would you ever not split them in an objective mission? If you keep the two units next to each other you still have exactly the same firepower, but also flexibility and a much lower chance of having all 10 tied up in an assault or wiped out by some horrible weapon.

Like I say, there are definite reasons for keeping them together:
Coming in from reserve,
Keeping the heavy weapons safe,
The squad is worth something to the enemy if it's dead.

Well that took forever, finally got the parts to update my Interceptors, I've remolded them already and await a test fight tomorrow.