I'll expand a little on parts of Kanitatlan's post.
Armour and piercing
In a typical 5+5 or 10+10 tank division, the best sub-unit (whether support or line) provides ca. 1/3rd of it's armour to the division, the rest of the tanks add 1/3rd of their average and the infantry add 1/3rd of their armour, if they have any. Piercing works roughly the same, except the best sub-unit matters a bit more. So if you include one super-armoured and/or super-piercing unit...
Reliability
Reliability affects losses to attrition and how much damaged material you get back after combat. For the purpose of attrition, any reliability including maintenance company beyond these values does nothing:
- Flame tanks: 33%
- Light tanks for armoured recon: 58%
- SP AA, single battalion: 72%
- Medium tanks/TDs, single battalion: 80%
- Medium tanks, 5 battalions: 96%
- Medium tanks, 10 battalions: 98%
Do note that reliability affects more than attrition, so don't dump it completely! (Maybe aim for at least 75%?)
Boosting flame-tanks and armoured recon
I'm personally not sold on the cost-efficiency of adding extra MGs or even turrets to tanks at all, so I wouldn't add them to flame-tanks or reconnoiseurs either. But I haven't crunched the numbers, so take my advice at your own risk.
Howitzers and close support guns
In SP, you will [virtually] never encounter hard divisions, only softs and mediums, so you only need soft attack and (average of soft and hard attack). This is what makes howitzers a good choice.
The close support gun, however, costs quite a bit but barely delivers more than the much cheaper automatic cannon. If you're massing tanks, you may have to mass support guns, but if you also have line artillery in your divisions, it's probably best to use automatics until you get the real howitzers.
Support artillery
If the division is expected to fight at all and you have the empty slots, add support artillery and support rocket artillery. Tank divisions may use so much other stuff that you have no room, depending on personal preferences, but if you have the empty slot, add it!