so a medieval army with a lot of BGs (more than 10) probably has quite a few small, pants BGs of skirmishers.

An ancient army on the other hand will likely have a number of decent skirmishers available - Cretan archers, slingers (mmmm cheap and effective) and so on.
Great!

Thanks for helping a ...

Undrilled superior armoured cavalry lancers are 16 points each and undrilled superior armoured knightly lancers are 20 points each. That is 25% more per base so you will have less knights.
Pardon my inexperience (and I know most people probably don't really care), but it is really about the time ...

Medieval armies will have a similar number of battle groups but probably less bases and if all the troops in the medieval army are well armoured and stacked with nasty POAs then yes they will definitely be smaller.
Thanks for the explanation. I was just surprised given the large(-ish) size of some ...

Poor or average LF w/ shooty things run circles around the knights while laughing. If things get tough they go up a hill or into a swamp and laugh even harder.
Don't get me wrong, I don't think knights are invincible...

I'm trying to find out if this is true:
at equal points medieval armies ...

Then they must be filled with less effective troops elsewhere
Like for instance an 8 base BG of Average, Undrilled, MF, Bowmen. Whom at 6 pts a go are just a moving target.
They could be an 8 base BG of HF pikes, or even 2 poor mob 12 base filler BGs, or whatever -
they still count toward the ...

If a BG of 4 knights charges into 8 cavalry there is a good chance that a base of knights will die. OK there is a higher chance that a base of cavalry will die but one base dead on each side and the knights don't look anywhere near as good. They lose 2 dice and are at -1 on all subsequent cohesion ...

Knights seem a VERY good value.

Oops, I meant to say:
Knights seem a VERY good value

Man for man, yes, it should have an edge. But if the points system is doing its job, then at equal points medieval armies should be smaller than ancient ones by just enough to compensate.
However, knights get 2 dice for each front rank base in melee.

Assuming you keep your knights in a single ...

On the same page (p. 101) the next bullet item says:

"If some of a battle group's close combat opponents break, and some don't, it does not pursue unless it was fighting the unbroken enemy only as an overlap."

That seems to imply a pursuit in your situation?!?