Just to start out, this post is intended to pick out which is the best choice for a ranger's chosen enemy list. As usual, the most beneficial opponents IMO would be either the ones who are 1. very very tough, or 2. very very common. Common monsters will make more use out of the ranger's favored enemies ability and tough monsters can be VERY annoying in HoF, which would hopefully be offset by favored enemies. For this ranger i've decided that my mages can handle the tough guys and ill concentrate on killing the masses, so... If anyone can help me deduce which enemies are the most common I'd be much appreciated.

So far i've already spent 2 points on favored enemies, the two are 1. Troll and 2. Yuan-Ti.

Goblin. in HOF mode they are the toughest and very annoying.

undead are also very common

However, goblins and orcs only show up in the first part of the game. Once you leave in the airship, you won't see any more of them, except for the undead orcs in the Fields of Slaughter.

The game shows a lot of variety in each section, so it's not easy to choose enemies based on frequency.

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Yuan-ti and Driders would be good choices, and if you pick them first, by the time you get to that part you will have a high bonus against them. Hook Horrors might not be a bad choice either.

As was said, orc and goblins are almost only in the first part of the game, so it might not be the best choices. That, and it's also boring when every rangers has Orc and Goblins as his racial enemies.

Well, how's this for a list setup:

Troll (already picked)
Yuanti (already picked)
Driders
Hook Horrors
Giants
<whatever i'm facing at the time>
<whatever i'm facing at the time>

I'll throw away the last two since they will only give me a +1/+2 bonus, not that substantial by the time my ranger/fighter hits around level 25(since i'm playing in HoF). he should be able to waste almost anything without a sweat. What I'm most worried about is the top 4 picks, since by the near end it will give me a +4/+5/+6 bonus to attack and damage, which is quite substantial.

Tell me if i should re-arrange my list or add in something other than Giants and Hook horrors. thanks for the help

It seem nice. There is not a lot of giants in the game, but then again, there is not a lot of other kind of enemies, either.