well...
Most powerful of all space marine groups...
THey are the space marines used by the daemonhunter inquistors. They are only called upon for major chaos invasions; fighting on daemonworlds or against demons that would rape armies of other races/space marines (ie. an\'grath the unbound comes to mind, angron, etc).
THey use ancient power army, very artistic with runes,etc hence they look very different than other space marines. THey are weaker at heavy weapons as they can\'t take assault cannons, etc...only land raider, orbital strike (which is too random), and dreadnought can take lascannon\'s so heavy tank armies can be a problem. Swarms also bad since GK cost so many pts, they are always outnumbered... (even less troops than deathwing normally).
Their grandmaster can take out even emporer\'s champion and i\'ve seen them take out greater demons, and carnifexes in 1 shot due to their force weapon rules.
as space marines are created by genetic manipulation based on the genetics of the primarchs (blood angels = sanguinius , for example)...the grey knights\' gene seed is from the emporer himself; thus making them completely fearless (never take pinning tests, run away, etc) and immune to minor psionic powers with chances to stop all.
The anceint emporer honour guard, the Custodes, basically would be grey knights...
IN close combat, none of space marines can take on GKs and GKs are also good at shooting.
THey are the ultimate heroes of the IMperium...
Sanjay