The only thing I'd add - is that when blocking a band - you have to pick which creature you are blocking... sometimes it matters a lot...
Also, if a Band attacks, and a band blocks... the attacker decides where the blockers damage will be dealt and the defender decides how to split the attackers damage among his band (I think).
Here's a very complex nonsense situation....
))
Attacking Band:
Pikeman (1/1; Banding; First Strike)
Mesa Pegasus (1/1; Flying; Banding)
Benalish Hero (1/1; Banding)
War Elephant (3/3; Trample)
Blockers:
White Knight (2/2; First Strike) (Blocking Pikeman)
Benalish Hero (1/1; Banding) (Blocking Pikeman)
Thicket Basilisk (2/4; All non-wall creatures blocking or blocked by ~ are destroyed at end of combat) (Blocking Elephant)
First Strike Damage goes on stack
The attacker will have to dole out the White Knight's First Strike Damage to his creatures. - We'll assume he assigns the damage to the Pikeman.
The defender will get to dole out (between the Hero and WK) where the Pikeman's damage will go - we'll assume it's going to the WK (this is because his blockers have banding).
Damage goes on stack
The attacker has to assess the 2 points of damage from the basilisk to his remaining band (Pegasus, Heroes, and Elephant) - we'll assume he puts it on the Elephant.
I believe the blocking Hero and Knight are removed from combat - since the pikeman is dead... (is this correct rules gurus?)
Since this leaves only the basilisk as blocker, the attacker gets to put all 5 damage (3 from Elephant, 1 from Pegasus, 1 from Hero) on it. Since this is one more damage than the basilisk can handle - one point of trample damage will get through to the defender.
I do not believe the Pegasus & Hero die from the Basilisk - but I could be wrong... (Rules Gurus?)