If you keep your named pilots together, they become the main target. I'd go with vader in one wing and Mauler in the other, so your opponent will have to decide who to go after. The others you can divide however you want. And you will be placing 3 asteroids as well as your opponent. I'd go with the smaller ones, although it doesn't matter that much which ones you choose to use.

Also, given:
1. If you want to go with a less than 100 point build to help with initiative
2. If you want to fly as 2 wings (you honestly don't have to listen to a word I say. You can play however you want)

Then I would personally downgrade Mauler to Backstabber. That will really force your opponent to second guess his decision to go after Vader. Mauler gets an extra die at Range 1, backstabber gets it at all ranges, and if your opponent is going after vader, you'll get lots of chances to use backstabber's ability.

I have been tinkering with a similar squadron: http://x-wing.voidstate.com/view/151

Except instead of Swarm Tactics, I give Vader Sqad Leader so he can pass off his 2nd action, and Howlrunner Expert Handling to shake off target locks. Between the +1 dice from howlrunner and +1 action from Vader, the Academy PIlots should become a lot more threatening…

I was thinking squad leader, but I like Vader having a buddy to gang up on someone with.

BTJ said:

I'm almost half tempted to try and run a Rebels lists myself just so I wont be another guy playing an Impire list.  Now me only having three Rebel ships 2 x  X-wings and 1 x Y-wing i dont know how i could build a list with them that could hold there own against Tie fighter spam lists, And me not having much experience in playing Rebels i wonder if there is a way to run a solid four ship squad for Rebels. The hard thing is the rebles have so many goodies that I want to throw on the ships and they all cost so much, by the time I get a decent  looking list going im looking at 3 ships :(  Not trying to steal the thunder of this post but what would you do in this situation?

If you're going Rebels Wedge, Luke And Horton make a decent squad. I've been playing games against myself to get my head around manouvring and the like, and the three of them took lumps out of my 4 TIE list that I've been practising with.