I think if you're trying to look menacing and "nightmare" freaky, then the old design was a bit better... However the new design still fits that bill very sufficiently.
If I was a peasant, perhaps even a soldier, and saw any one of those motherfuckers running towards me (Eredin in this description) I'd be shitting my pants. His old design would probably have me shitting and pissing simultaneously, but the new design would definitely still have me shitting myself.
Also I think his Eredin's new design actually feels LESS generic compared to the old one. The old one was VERY reminiscent of Sauron, yes it's menacing, but it still felt really familiar. However the new design feels much more unique and "in a world of its own".
These are old as fuck Elves who have surely mastered their own way of fighting efficiently in the armor they don, and as long as they can still fight alright in their armor it's okay because it's most likely more-so about the menacing aspect.
The only thing about the Leaders design which I find odd, is the lack of Scabbards. If they keep swords on their backs, then that's a little odd because those bars and spikes very well might get in the way of drawing your sword, however if they had a scabbard at the hip, then it's fine. However I don't see a scabbard anywhere, so that's a little confusing, unless they're magic or some shit.