Downloaded the demo for this from Steam; the full game will be available (for 20 bucks) next week.
It’s basically a Master of Magic update, following the original’s formula: take the current version of Civ, change the skins a bit, change tech research to spell research, shift the emphasis more towards combat, and there you go. It’s got the Civ V hex-based movement, one-unit-per-hex, and a roughly similar city-building system; diplomacy seems relatively limited. There isn’t a tech tree, but you need to build basic buildings in order to later build more advanced ones, and the buildings you have determine what troops you can recruit. Unique resources let you build special buildings; since this is a fantasy game, there’s stuff like “ancient ruins” and “magic fields” in addition to minerals, livestock, and agricultural products. Also, if you take over a city of another race, you can get access to troops of that race. There doesn’t seem to be an unhappiness mechanic; troops cost gold and food (and mana for summoned troops) upkeep, but if you can pay that you can churn out armies to your heart’s content.
The world is a fairly hostile place; there are tons of monster lairs out there that every so often generate a monster that roams the land and terrorizes the citizenry. Fortunately, your cities have pretty tough defenses, so you can send your troops out in an expedition to wipe out the monster lairs (you get a gold bonus for every lair you wipe out; one time (out of about ten lairs) I also got a free researched spell) and rely on your city defenses to kill anything that comes too close. At least in the demo, I ended up not even trying to mess with my neighboring wizard and instead concentrated on taking over neutral towns and wiping out monster lairs.
There are also portals to another world, which are guarded by fairly tough elementals. I did not try exploring the other world, so I can’t report on whether the gameplay on that side is interesting.
There are quests that pop up every so often, but during the time I played they were pretty boring; build a farm, build a new city, kill this one monster. Apparently you can get quests that will give you improved standing with various deities, but nothing like that came up in the 20-30 turns of the demo that I played.
The demo is on a small map, and starts you out as a human. You can apparently choose a different starting race and probably otherwise adjust your starting stats; one of the enemy wizards has goblins as his base race, while the other is undead (I think). The demo doesn’t give any sense of how these choices might affect gameplay. I burned at least 3 or 4 hours playing it, and could have kept going for a while longer.
In terms of stuff not brought in from Master of Magic, there aren’t any heroes (as far as I can tell) and I’m not sure if there is a Spell of Mastery mechanic or not.
Seems worth the $20, though I probably won’t shell out immediately what with Diablo III right around the corner.