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I waited a long time for Heroes V, and now it's finally out!
Positive aspects:
1) Beautiful and fully 3D castles!
2) Good RPG system: skills + abilities and various hero specializations.
3) Cinematic camera during battles!
Negative aspects:
1) Reduced number of castles! There are no barbarian or swamp castles, nor is there an elemental castle.
2) The music is somehow indistinct, in a word, bad. Worse than in previous installments.
3) Reduced RPG elements: two skill slots, a hero mannequin, and a small number of artifacts.
4) The interface and controls are, to put it mildly, unsuccessful!
5) The grid during battles is too bright! It spoils the perception of the battle!
6) Poor balance!
7) The cartoonish graphics don't really suit the Heroes series!
8) The creature designs are unrealistic or funny in some places.
9) A small number of maps and their lack of originality.
10) The "pop" nature of the castles; now we have many, many elves... instead of other, more original creatures.
11) No map editor!
I think that's all!
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Conclusion: Heroes of Might and Magic V is a cut-down version of Heroes III with better, but cartoonish, graphics. It's far from the best installment in the series, lacking elements from both Heroes IV and Heroes III. It's neither fish nor fowl! It was made mostly for casual gamers, not for fans of the series. Too few new ideas and too much absence of old ones.