The first tournament results are in, and Tyranids are not the worst of the worst, and in fact are being reported as on par with other codices, namely Space Marines. The results come from the recent Tshift tournament in Seattle, from two different people on two different sites.
I read both of these sites, Blood of Kittens and Frontline Gaming, and I am not going to go into their analysis of Tyranids after this tournament. Instead I am going to post up the lists they shared and give you the links, so that you can see the success they had, and their opinions after hitting it hard up against a strong Tau/Eldar meta in Seattle.
So here are the two lists, and the links to the sites where you can read more about their reports.
Tasty Taste and his report on the Blood of Kittens
http://bloodofkittens.com/blog/2014/01/21/tits-tournaments-competitive-tyranid-results/
Hive Tyrant: Twin-Linked Devourer with Brainleech worms x2, Hive Commander, Wings
Hive Tyrant: Twin-Linked Devourer with Brainleech worms x2, Wings
Tervigon: The Norn Crown
Hormaguant Brood: x2 18-man
Termagant Brood: 30-man with x25 Devourers
Zoanthrope Brood: 1 x 2
Venomthrope Brood: 1 x 1
Mawloc: x 3
Aegis Line with Comm Relay
= 1750 pts
Jeremy's list and his report on Frontline Gaming
http://www.frontlinegaming.org/2014/01/21/the-french-overlord-takes-nids-to-tshft/
2 Flyrants with 2x TL Devourers and Wings
30 Termagaunts with Fleshborers
1 Tervigon with Regen
20 Termagaunts with Fleshborers
1 Zoanthrope
1 Venomthrope
2 Harpies with TL Heavy Venom Cannons
2 Mawlocs
1 Tyrannofex with Acid Spray and Regen
The key here is not necessary their lists, but what they said about their games in the tournament. Tyranids are not going to be the bottom of the heap competitive army that so many people are fearing it is. Take a look at their reports.