Am I missing something, or is the basic archon almost always worse than the pegasus? The archon is more expensive, slower, and has a higher upkeep. It does reduce certain heroes' bonuses by 6, but the pegasus boosts your strength by 5. A devil does negate the morale, and a unicorn reduces it, but an archon's bonus is useless if you aren't fighting against specific heroes.
I do (sometimes) buy grand archons, but the last time I shelled out for normal archons was many betas ago. Does anyone actually buy archon production?