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The Land of Giants and Eoful are the same. The lords of Harmondeal simply took a detour and used the tunnel from Nighon, which leads to Eoful.
To the left of Antagarich is the island of Vori, where the original snow elves live, as well as snow giants.
In Might and Magic VII, there are two possible endings: one for the Necromancers and one for the Wizards.