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Since you like it so much, Heroes of Might and Magic III continued to develop the individualization of each hero. Now they differ in specializations, etc. In the first Heroes, they were just faces with different names and starting characteristics.
Maybe I just couldn't get used to the numerous innovations of Heroes of Might and Magic IV after Heroes of Might and Magic III, but no matter how much I play, I still don't like the fourth game.
It's like playing chess with 64 squares and 32 pieces after playing normal chess, and then switching to chess in 3 dimensions.