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Essentially it comes down to taking your "Household" Knight and declaring a House. Confusing? Yes, but basically since you can only be one of two Households, those further seem to open up Houses to belong to.
So far I just like having the option to put my Wardogs in outflank.
However it is interesting to note that 9th edition promises us a Command Point ability to put things in reserves (perhaps not outflank).
Anything tickle your fancy?