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Yes, in the fourth installment, individual buildings are well-drawn and expressive; they are not easily confused, and they are easily remembered and recognized on the adventure map. In terms of functionality, the town screen is simply perfect; even the identical arrangement of buildings works to the advantage of the gameplay. On their native terrain, many factions look visually acceptable, although they are still clearly weaker than the second and third installments, not to mention the fifth.
I personally got the impression that after the release of the 6th and 7th installments, people looked at the fourth and said something like, "Sorry, we were too harsh on you."