[Aleph]

Basic question from someone new to the game: Why a Kraken and not a Wyrm? Less attacks, less hitpoints, less defense, but starts with regeneration, more protection, more attack, more strength, is poisonous and fully poison immune from the get go, is amphibious rather than aquatic (saving a misc slot if you want to go on land), has 2 helmet/2 misc rather than 3 misc, and has more leadership. You could go with Spirit Helmet/Wraith crown/Stone Bird/Pendant of Luck for a combat model, or Skullface/Starshine Skullcap/Water Bracelet/Crystal Coin if you want to gain turn and gem advantage through less empowering.

The big loss would seem to be some vulnerability to afflictions, but you could always use some of your turn advantage to create a Mother of Serpents to act as forward magical support and healing if that becomes an issue.