Dwarves are doughty, solid and defensive. The variable movement rules in Warmaster actually make them a bit more mobile than their larger Warhammer cousins. A much greater challenge for the army is its composition as an infantry only force. This effectively prevents them from pursuing enemy cavalry in close combat. Combined with the relatively low number of attacks per Dwarven stand, this really limits their ability to wipe out units completely. Playing Dwarves is usually not a challenge of winning combats but one of winning the game (i.e. fully destroying enemy units to achieve the enemy’s breakpoint).
My army uses a traditional colour scheme of blue and white with the odd orange accent (mostly for the beards).
Leaders: Dwarf characters have the highest leadership in the Warmaster game. Combined with the low unit count of the Dwarven army, this reduces the need to have a lot of them. I went with just the basics: A General (middle), Runesmith with Anvil (right) and Hero (left).
Infantry: Steady foot soldiers are the core of any Dwarven army. Four units of Warriors fill this role nicely. To avoid confusion in larger brigades, the units colour codes by their shields (solid blue, solid white, horizontal halves, vertical halves).
Troll Slayer provide some assault power and just plain fun. The missile base of the host is provided by two units of Hand Gunner and a unit of Ranger.
Artillery: Dwarven artillery is second to none. The two batteries of Cannons deliver long range fire while the two Flame Cannons can devastate enemy units as they close in.
Warmachines: Lacking any conventional flyers, the Dwarves depend on the Gyrocopter to deal with mobility situations. While the Gyrocopter usually cannot actually destroy enemy artillery pieces, it can at least keep them occupied (and annoy nearby units with the command penalty for enemy units within 20cm).