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I don't know about the second game, but the fifth one avoided many of the problems described in the third game or smoothed them out. Although it added some of its own, they don't compare to the problems in the third game.
The fourth game is strange... But maybe it's balanced, I'm not an expert. Well, with the caveat that you need to ban vampires in the Death faction, for example! ;) Anyway, playing a tournament in it would be less interesting to me.