Well, I have been playing the game now for a few days, almost solidly and I have to say, its not perfect by a long shot, but it is a good, very good game to build off of. It...kind of brings back SOME of the nostalgia for Masters of Magic, but at the moment, its missing...something. But, I have been enjoying the game a great deal but a few things have ticked me off.
Only humans? Really? This is a game in a high fantasy setting and all the stock races are boring old humans. Thats just a little...lackluster isnt it? This game needs some races putting into the game that will give it some flavor and variety. Right now all we have to choose from is one group of good humans over one group of evil humans...it isnt enough.
The Maps...simply arent big enough. And, when you mod the game to make the maps bigger and manage to get the buggy editing tools to work for long enough to build said HUGE map...it lags like hell in the game to the point that you cant play.
I would like to see a second land too. Masters of Magic had the regular world and the under world you could switch to by entering portals in towers.
All in all though, the game is very good and I am having a blast playing it, I just think that these are a few things that need to be addressed in future patches.