Here's stats for a quick rundown(thx elpea for unit stats page).
65 food/35 gold
130 HP
Speed 6
Melee attack 11, 3x vs cav
40% hand resistance
Let's compare this to a musketeer, and hussar.
Musketeer
75 food/25 gold
150 HP
Speed 4
Melee attack 13, 3x vs cav
Ranged attack 23 @ range 12, 3s cooldown
20% hand resistance
Keep in mind melee attacks at 1.5s cooldown.
For approximately the same cost(cheaper if you consider that food gathers quicker than gold), you get a unit with 20 more HP, a better melee attack, same bonus vs cavalry, and a solid ranged attack. With the only upside on the rodelero being the hand resistance, which is countered by lower HP, and the higher speed. Melee units still have pathing issues and get blocked on each trying to chase units down, even when they reach a target
I'll make one more point, rodeleros (and all melee units) have access to "Cover" formation which halves ranged damage. This would be very good, but it also halves speed, and the units own attack. Thus, even with the extra ranged defense, they'll be able to stay in a fight longer, but won't be able to inflict any realy damage.
Hussar
120 Food 80 Gold
290 HP
6.75 Speed
Melee attack 30
10% Ranged resistance
This is appromately twice the cost of the rodelero, for a unit that has more than 2x the HP, resistance to ranged, near 3x melee attack, and faster. Only downside is larger collision size, which again it tough for them to engage targets in melee. Since Hussars are cavalry, they'll lose to (in tier 2) only musketeers, pikemen, and rodeleros. Everything else in tier 2 beats pikemen, and rodeleros < Not saying Rodeleros are useless, but I'm having trouble finding a use for them. You'd think they'd beat infantry if they can get in range, but they don't. Even wimpy crossbowmen, can stand up to them, simply due to the fact while the front row would switch to the pitiful hand attack, the xbows further back would still be engaging with the ranged attack which does significant damage.
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Retired: Age of Empires 3, Warcraft 3, Guild Wars, Dark Age of Camelot, Age of Empires 2.