Not really. Let's look at the Hellenic Heavy Skirmisher Cavalry vs Camillan Equites, shall we? They have the exact same Defense values (10/3/8), and the same Morale (12). HHSC are Disciplined and Highly Trained; Equites are Impetuous and Trained. Equites are more expensive (3042/761 vs 2409/602). In melee? The Equites can use a Spear (8 Attack, .15 Lethality) or a Sword (9 Attack, .13 Lethality). The HHSC only has a Sword for melee (8 Attack, .11 Lethality, AP). The Tarantines have a smaller shield and moer skill (10/2/9), more Morale (13), and 9 Attack - and cost more - but are otherwise similar to the HHSC. Hippeis have identical Attack to Equites, but 7/2/10 Defenses and are Disciplined/Highly Trained.
In a charge, the Equites/Hippeis are better, but the Skirmishers are at least as dangerous as they are in melee, due to their AP swords. Regular Hippakontistai are probably a bit worse, but they retain the AP sidearm and are ~2/3 the price of a Hippeis, and are still fairly well-protected.
Now, there is something else that needs to be brought up: Cavalry do not, in general, fare well in extended melees with infantry units. They will usually end up dying very quickly. There's also the fact that Jav-Cav are cavalry *skirmishers* - of course they're not supposed to be in the thick of fighting, they're supposed to be flinging pointy death at their foes! Do you send your Peltastai into the fray when they've still got javelins in their pockets? How 'bout them Toxotai Kretikoi - just fire off a couple volleys, then charge into the flank? Of course not - but the fact that they're decently protected and can actually defend themselves with a decent weapon (6/1/10 with a 9 Attack, .13 Lethality Sword) sure helps if you either screwed up or really need some kind of support right now.
Edit: I mentioned them earlier, but never got around to posting them:
Surprisingly Good and Surprisingly Bad Units. There's also this more recent Units You Don't Use thread, which has some discussion on units that are better/worse than you'd expect. Like Numidian Archers.
Edit 2: RE: Celtic Shortswordsmen: The Cladaca are insulted that they were not been mentioned.





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Hail, Basileu! These men are the Peltastai and among the elite of your army. Men in their prime and drawn from the upper echelons of society they have been fitted with fine armor, a sword, and javelins. They excel in assault where their javelins can scatter defenders from breaches in defenses made by your siege engines. In the open field, their equipment, lighter in comparison to the heavily armed Hypaspistai, makes them adept at flanking the enemy battle line or exploiting openings made by your other troops.
The Peltastai is a type of elite skirmisher that sacrifices heavy arms and armor for mobility and range. They are armored in linen and carry a medium sized ovular shield. Originally, they carried a crescent shaped 'pelta' shield, originated in Thrake and gave the peltastai their name, but this was phased out in the fourth century. Their armaments consist of several javelins and a sword. This panoply makes them light and mobile, but still able to engage in melee after their javelins have been thrown. They are a versatile unit but one must remember that their primary arms are javelins, and they are not equipped to stand toe to toe with heavier infantry. Their role is one of speed, harassment, and critical flanking maneuvers.





