Glistagon
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Simply "reducing speeds" isn't enough to balance movement; it's also important to consider the distribution of speeds (with an emphasis on slower units), the speed difference between flying units, and the presence of a heavy class (to provide defense against hit-and-run attacks). Larger arenas alone won't achieve this; they essentially just fix the issue of units reaching their destination on the first turn, but there are still many units with speeds of 8 that ruin all maneuvers.
I'd also like to note that increasing the size of the arenas increases the number of cells on the battlefield, thereby reducing the tactical importance of each individual cell, including the role of unit sizes. The only reason I'd like to try larger arenas is the possibility of placing more large units, i.e., increasing the size from 10x12 to 12x12 or 14x12.
But if we're just brainstorming, it would be cool to see hexagonal arenas with a reduced number of cells, similar to Heroes 2.
Yes, that's all correct. I didn't think deeply about the problem. The hexagonal grid from Heroes 2 is great.
Actually, I really like the combat in Heroes Online (no need to throw stones at me). It has a hexagonal grid with low speeds, enhanced defense, and very diverse arenas that are heavily populated with objects and terrain. I found the tactical aspect of those battles very enjoyable, and the various interactive elements on the arenas are also cool.