It's a matter of playstyle. The question is that which method would be more effective. [Especially in MP since it enforces powergaming. ]

Either way, I sympathize with both methods.

I know i will do a bit of both.  I'm curious to see how the magic/essence stuff is developing, as that will be a big factor. 

I personally hope for a more Age of Wonders 1 bent to things (i.e., wandering Sov) than AoW2 (stay at home). But I enjoyed both games, and admittedly I think AoW2 was more balanced than AoW1 was. (Not that it didn't have it's own balance issues, but eh).

I will do both, depending on the type of game I want to play... but only if they are both viable.

Well ... I will have games where I go out and explore/ adventure etc .... and other games where I make a massive army of domination.

I'll probably play 67% of games melee heavy and 33% of games magic heavy

Much rarer will be the game where I sit at home ... never leaving my walls

adventuring exploring and magic are what i use him for.

more of a Sage path of play a wanderer whom also has great arcane power and eventually comes to his cities to build up great artifacts/cast great magic is more or less the sov for me i like to use children and npc's to be generals and govenor's while the Sov is the great magical authority.

I prefer a game where the sovereign is mostly based at home, but where he can be called out for crucial or desperate tasks, and where at the end he will have to be defeated himself in combat before it is over. I don't like it too much when the sovereign himself is used as a juggernaut, spearheading any military move. For me it feels more epic when the big guy is "above" the daily fighting business, much like Sauron. Only at the key moments should he intervene personally. SD said that their recurring question to find an answer for what the sovereigns can do is: What would Sauron do? Well, during the whole war of the Ring he was just eyeing his expanding empire from his tower. In Silmarillion, spanning most of the history of ME, he was a bit more active (as young), but no one can call him an adventurer or champion. 

That's also why I don't really understand the hype of the "you are the sovereign" concept. It's perfectly fine and fun to play your main heroes leading armies into evil lands as a major part of the game, while at the same time playing the sovereign more as a controlling eye. I don't want it to be turned into some kind of RPG where you walk around on the map killing monsters with one character only.

"At home" builder and adventurer. Will likely not risk him much, if I can help it.

That is if he has a "Home" to go back to. Brad has mentioned that perhaps a little wandering early may be doable, but a bad random chance encounter, say an "Elite Troll Leader" could be disheartening.

Although, I assume the "Retreat/Run Away" button will be turned back on.

I have become somewhat accustomed to the, drop a Village, then go out "Adventuring" side of things so far. I will likely continue that trend as such.