LORE TOKENS can be used in many ways. I like to use them to reflect extra hits a unit can take. For example, give a creature 5 lore tokens and don't use the critical hit rule. It will take 6 hits to kill the creature (the same on average as critical hits).
LORE TOKENS also make find HORDES. Hordes consist of 1-4 lore tokens in a unit. They are treated as Light Infantry except that they are never bold, battle with only 1D and don't count for victory conditions.
CREATURES that come with the game can be used for medieval games with small changes. Each creature receives 1 lore token every turn it is activated for its own powers, as well as any lore it scores. Don't use criticals, just use 6 hits to kill the creature.
WEB TOKENS make fine small spiders. Treat as Light Infantry. They receive no movement penalty for woods and +1D in woods for combat. On a lore roll, they web their target. A webbed units can't move, retreat, attack or battleback until they spend an order freeing themselves from the webs.
POISON TOKENS also make fine small spiders. Use like above except that a lore roll counts as a kill.
(Now you can make an army with a Giant Spider and various smaller spiders)
CLERIC TOKEN would be usually considered Medium Infantry. Instead of moving or attacking when ordered, it may heal 1 lost figure for itself or a neighboring unit.
WIZARD TOKEN could be classified as almost any unit type (but I would start with Medium Infantry). Wizards treat lore rolls as flags. When ordered, they may switch places with a friendly unit instead of the normal move/attack.
ROGUE TOKEN would normally be considered Light Infantry. Rogues can retreat before combat if meleed, preventing the attack. Rogues are immune to battleback.
WARRIOR TOKEN could be any kind of unit (I would suggest Heavy Infantry). Add 1 speed compared to the normal.
GENERIC TOKEN represents a band of heroes. Treat as Heavy Infantry or Heavy Cavalry with +1 move.
TOKEN CUPS could be used for war wagons and the like. Consider them to be bold heavy infantry.
BLAZON TOKENS should be be used for the side's typical units. English are longbow, French are heavy cavalry, Dwarves are heavy infantry and Goblins are light infantry.
BANNERS can be used without figures (use lore tokens). This might be needed if both sides are deploying many of the same unit type (a Goblin vs Goblin battle possibly)
Everything else in the box is too big to put in a hex.
The terrain types also suggest various types of special units.
WOODSMEN or ELVES are Light Infantry with +1D in woods and no move penalty in woods. They are bold in woods.
HILL GOBLINS are Light Infantry +1D in elevated terrain. They are bold on elevated terrain.
WATER GOBLINS are light infantry. In water terrain of all types they are +1D, +1 move, bold. Outside of water they -1D, -1 move.
BRIDGE TROLLS are heavy infantry. They are +1D on bridges.