After getting game to run somewhat stable (turned everything off) I played another 10 hours or so. Here is my feedback:

Units:

1. Units cost too much due to excessive cost of equipment and long training time. About the only unit worth training is naked archer. Also units are all around inferior to heroes.

2. Walls don't provide enough defense bonus

3. Equipping units with plate leaves them with zero combat speed, unable to attack or move in combat

Quest:

1. Empty quest nodes do not dissapear and do not generate new quests - inns, ruined keeps and such just hang around

2. Troll Path has no defenders, it just grants you 'freebie' powerful ring

Technology:

1. Seems random, often crucial technology is missing from your tree.

2. War tree is too deep compared to other trees

Heroes:

1. Ability to equip multiple backpacks and rings is overpowered - I had hero with 10 rings/backpacks that was unstoppable

2. Combat Speed is way too powerful, it should do less since it #1 stat at the moment

Misch:

1. Dragon is too huge and too easy to get

2. You can purchase demon sword when in 'evil' enemy territory

3. There is no way to use caravans as getting into enemy territory possible only by declaring war

4. Food is too rare and too much of a limiting factor

5. Shards don't seem to do anything when mined