I really really want to like Elemental so much that I play nothing else.  Unfortunately there is just too much about the game that feels not quite done.  I know many of the points I am about to make have been made in various other posts, but I feel I should point out why I just can't bring myself to get fully hooked yet.

1) Champions.  Right now champions get one inherent ability at the beginning of the game and then get nothing else but stat increases.  This makes me very sad.  Learning new abilities was one of the things in AoW:SM that made heroes cool, without it I really don't feel that attached to them.  I want bards to be able to give in-combat buffs to my units, warlords to perform whirlwind attacks that target multiple enemies at once, merchants to be able to bribe opposing champions, etc.  Also, I would like for there to be a way for champions to gain experience other than combat.  Right now such a method is not necessary (because they don't learn any new abilities) but I think there should be in the frture. 

2) Magic.  I've read that magic damage might receive an overhaul soon, so I'll reserve judgment on that.  I've also read that having a separate magic resistance stat would be better than just lumping everything together with defense, but it will take a major stats overhaul.  Unfortunately I think such an overhaul is needed sooner rather than later.  Wearing plate armor should not make a fireball do less damage (in fact, making some armor give penalties to magic resistance would be another cool thing to see.)

3) Speaking of stats, I would like to see them used more.  Dexterity being used instead of strength to modify ranged attacks, intelliegnce boosting city production, charisma giving friendly units a morale bonus, etc.

I think that Elemental has the potential to be 200% more fun that AoW:SM, but right now it feels like ti's about 70% complete.  I agrre with others who have said that the game needed a few more months of development to truly shine.  I will be following this game to see what further changes are made, but for now I think the next great fantasy strategy game is still being made.