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I must disappoint you: I have nothing to do with Nival (to my deepest regret: D). Moreover, I missed most of Nival's games.
As for my gaming experience:), it's quite extensive, about 10 years (starting with King's Bounty and ending with Heroes 4 and WoW) - it was Heroes, along with Civilization, Warlords, and Warcraft, that "shaped" my gaming worldview.
I'm not trying to be fair:), I'm just expressing my opinion, just as you are. The difference between us is that I know a little more about the 5th Heroes game and I'm trying to consider the continuation of my favorite series from all sides.
Regarding the graphics, I'll say that the transition to 3D damaged something, but at the same time added something positive that wasn't there before. Although, personally, I'm also against 3D, and not just in Heroes, but you need to look at the situation from all sides: Most of today's potential Heroes fans will simply ignore the game if it doesn't meet current standards (just as those who started with, say, the third game, subjectively consider the second game primitive (in my opinion, it's the best game in the series)). And as a result, Ubisoft will get less money. As banal as it sounds, these are the principles of the modern world, and they have always been a priority - starting with King's Bounty and ending with the fifth game - whether you like it or not. Although, visually, Heroes 5 is head and shoulders above any 3D strategy, believe me, the alpha graphics are significantly different from the beta (in the alpha, there is no "height difference" as such, most effects and shadows are disabled, and the detail of objects is significantly lower than even at the "Very Low" level in the beta).
Regarding the development of Heroes - 3DO also tried to create a 3D Heroes game, the difference is that, unlike Nival, they didn't have the resources, and their unsuccessful attempt under the Heroes 4 brand predictably failed and led to the company's collapse. Personally, I don't respect 3DO because no one has ever conducted such a cynical "milking" of fans. Each disk of the Heroes Chronicles (3) cost almost as much as the original game, and there was NOTHING new in it - today's fan-made WOG is significantly better than these praised "updates"...
As for your expectations... it's entirely up to you, and I'm not going to try to dissuade you from anything. I'll just say that graphics are not the main thing in a game of the Heroes level - if the game is slightly improved, then in its main components, tactics, and development, it can be compared to the legendary third Heroes... and more doesn't always mean better :).
Sincerely, Physic