Have a game going ( 500 + turn, NO OOM crashes! ) with the Epic number set to 5 instead of 3. Playing on a 256 x 256 map I am finding this a very enjoyable setting. Have raised the costs of PIONEERS & increased the costs of TELEPORT. ( too easy to defend stuff ).
For me & a few friends (can't wait for MP ), this has been an almost perfect setting for RESEARCH. As in any setting, choosing the right tech path is crucial. Even more so with the "slower" times.
Considering the reported "bugs", if & when this game is patched to perfection, Elemental will become the standard for fantasy tb games.