This list will either win overwhelmingly, or die quickly...depending on the opponent.
It's somewhat similar, though much weaker, to the list a buddy of mine used for a while (3 furiosos, 3 normal dreads, sanguinary priest with escort, 2 min/max las squads, pie-plate if there were points to spare). His furiosos never lived to see the assault phase, but they attracted so much fire that the rest of his army did pretty well, most of the time. Against my IG (only 7 lascannons and 3 autocannons, I promise!), he never made it to turn 4. Against my DA, his infantry fell quickly to my plasma, but my 4 lascannons had trouble with the dreads due to only being able to target one per turn (but they rarely failed to kill one every turn). If he was able to kill my devastators quickly enough, he generally won, if my lascannons made it to their 4th shooting phase, he generally lost.
With a list like this, you have to be able to eliminate pretty much all anti-tank threats in the first two turns, no ifs, ands, or buts. 2/3 of your army is vehicles of AV12 or worse. Good news: you need S6 and god rolls to glance a dread. Bad news: it doesn't take a lot of S7 or better weapons to ruin your day.
So, no, it's not cheesy, only an oponent who gambles that he won't face more than 2 vehicles and spends his points accordingly will have insurmountable problems. If anything, it's a weak list.
