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1. Simultaneous turn is not applicable.
1. Or maybe in the first few days, while simultaneous turn is active, this option shouldn't be enabled, but rather, for example, to allow controlling neutrals after switching to turn-based mode? This would even be better in terms of NOT peeking at the starting army and the opponent's setup, so they wouldn't take restarts. And from the second week, you can already meet the opponent or assess the army through a few taverns, etc.
2. The game will become like a game with an open map.
3. Game time will increase.
I don't know the mechanics of the timer in battle; if it ticks separately for each side, you can encourage it by limiting the time for the player controlling the neutrals and making them do it as quickly as possible. In Heroes 5, there are 4 battle modes in this regard.
- normal (think as long as you want)
- dynamic (slow) approximately 15-20 seconds are given for each of your and the enemy's stacks to perform an action; otherwise, the stack is automatically skipped, the same applies to heroes, but the limit is slightly higher, about 20-30 seconds.
- dynamic (medium) the same as "dynamic (slow)," but the limit is smaller... about 10 seconds for monsters and 15-20 for a hero.
- dynamic (fast) 5 seconds for a monster and 10-15 for a hero.
I don't remember the exact numbers, and the system itself is flexible; that is, I noticed that a certain percentage of unused time is carried over as a bonus to the next unit. If you move quickly at the beginning, you can then take a little longer to think.
4. Imbalance may increase due to the setup - archers and fast melee units will become very dangerous.
P.S. In my opinion, if the goal is to improve gameplay & balance, things like this should be a priority.
And simultaneous turn and timers are more about convenience. But ideally, you want both.