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A nobleman doesn't fight. He stands in the back row and "supervises". Occasionally a plucky enemy infantryman makes it to him, and gets put down by nobleman's superior swordsmanship skills. (Even 5% is pretty good odds against a peasant.) Then the nobleman complains that he got peasant blood on his plate-mail.
You allow peasants to take the battlefield? You have dishonoured the fallen. I ensure that only minor nobility make up my units, and will simply not engage peasants upon the field of honour.
You've never once commanded archers?
Anecdotally, I'd say yes. I've seen more Heroes killed by archers, and my characters have gotten wounded more by archers than by melee. But, that may just be my perception filter at work.