Salamanders, anybody? I mean they are a pretty good legion (well, since I read a couple books from the salamander series).
That's if there's a feature for permanent dead bodies (not sure about this since it hasn't been mentioned)
Like the idea of first founding chapters first, then expansion. Poor old salamanders, iron hands, white scars, imperial fists or raven guard are always less marketed than the big four, and they would all have cool abilities
while i would wet myself if we could play as grey knights (anti chaos specialists woot), i think in the greater lore of the 40K world, the Black Templars would be able to field a huge force in a planetary battle (like this wonderful game is being based on). Having a theorized 3000+ members makes them fit into any major battle.. in terms of Psyker friendly chapters, the blood Ravens would be good as they have a large number of Librarians.
Imperial Fists all the way. It seems foolish to have open warfare and not have somebody who specializes in siege warfare.
Or ever. If there were Grey Knights, there would be no reason to play any other chapter. Everything a regular Space Marine is, plus psychic powers. Any semblance of balance would get shredded.