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However, judging by what I've seen, modeling in HoMM V has always been a problematic endeavor. Unreal Engine will provide greater freedom in this regard.
Modeling itself isn't the problem, but exporting animations is – it requires a lot of effort, and frankly, there's simply no time to learn the intricacies!
The Unreal Engine is more widely used in this area, and if Heroes 7 is interesting and playable, there will be a plentiful number of mods!