[HMM V Tournaments own] Favorites to battle

Well, I'll share my opinion about the Dungeon faction. In my opinion, you should be most wary of races with high defense and attack, as Dungeons have weak defense and average attack. I'm most afraid of Humans and Orcs. I don't know about Necropolis; they can do a lot on the battlefield. Demons, on the other hand, are not very scary; their ability requires time, and secondly, you need a lot of summoning creatures, and with the given parameters on the Grand Strategic Map, the losses for Demons will be high, and the creatures of the first three levels cannot withstand an attack.
I'm not very afraid of Mages; their creatures are weak. And perhaps you should be wary of Dwarves; they have enough resources on the generator.
Although all of the above applies almost only to playing against a human, and that makes a big difference. The same Mages or Demons can quite easily come up with something unexpected, or, conversely, Orcs can make a serious mistake, and that will decide the outcome of the battle.