Here is my feedback after playing another 10 hours or so with 'release' version.
1. Squads are still too strong, they still attack at full strength when damaged, and in most situations can 1-shot much stronger creatures.
1a. Too much damage flying around - it is way too easy to 1-shot anything in the game, this puts too much emphasis on not exposing yourself to first attack, resulting in serious handicap to AI. Armor doesn't do enough, dodge is too rare of a stat (shields, anything else?).
1b. Hard-hitting weapons by far better than fast weapons - you want to 1-shot your opponents, that means largest number damage number upfront.
2. Magic is too 1-dimensional, you pretty much have DD and AoE nuke in each school of magic plus very few utility spells that cost too much mana (so it makes more sense to just nuke).
3. Gluttony of resources - food is about only resource that is somewhat balanced, for the rest of it your are drowning in excess.
4. New adventure tech tree is confusing - it is not clear what gives you adventure level and what gives you notable location level and why they are different and not merged into one metric.... It is also completely skippable, at least on smaller maps it doesn't do enough other than reveal couple extra resource nodes.
5. War tree is the only one worth researching - it largest and by far deepest tree, also most important one. You have couple desirable low-hanging tech in other trees, but you will be spending most in war. Can we spread goodies around? Fortifications can go into guilds/civics, command and squads can go into adventure tree... this way war won't be the only tree.
6. Defeating opponent sovereign deletes all his/her cities - this is annoying mechanic that should be changed. It should leave cities intact for you to conquer (how annoying it is to 'dance' around enemy sovereign just to capture his/her cities) and/or trigger succession and/or civil war.
7. Dynasties don't do enough - 'free' heroes are nice, but whole system feel under-developed and shallow.