I just got Warlords IV:Heroes of Etheria and wow! It's a considerable evolutionary leap over Warlords III. Warlords 3 had some differences from 2, notably the fleshing out of the heroes and experience for individual units---but the game seemed like an upgraded version of 2 with better graphics and a few fundamental design changes---and oh yeah, campaigns as well..........
But Warlords IV has taken the game to the next level in several ways:
1. Heroes do a lot less than in Warlords III, but that focus actually contributes the overall gameplay. Heroes don't cast spells anymore--the warlords are the only spell casters in the game(meaning mana is limited and is not to be used foolishly). The Heroes gain levels faster, but only have 3 attributes to choose from to modify, but those attributes are ones that can affect combat in a tremendous way. Heroes can be built at any level 4 fortress and higher level heroes can be found at many ruins and often found by completing the map quest.
2. Units, by contrast, do more and are stronger---each having a primary skill and a secondary skill. Some experienced units can be as or more valuable than a Hero unit. As a unit gets more experience, it gains levels and will become more specialized in its primary and secondary abilities. Some have dragon, dwarf, orc, giant or elf slaying, fire, smite evil and smite good abilites giving them a bonus attack points. Others have terror, death-gaze, crushing blow, assasinate abilites which gives them a chance to eliminate or mortally wound a unit out-right in combat. Some units are given support abilities like archery, healing, bless. Some have in battle defensive capabilities like armor and warding or in-battle offensive capabilities like bloodlust(+3 combat). It makes for specialized units that can deal with specific units in the game. This makes every unit type very useful for specific tasks and enemies.
3. Ruins can be searched by any unit or stacks of units, making quests much easier to complete, especially toward the endgame. But they are always guarded and very hard to take as a rule
4. The combat system is radically changed and 10 times harder, especially when assaulting fortresses. It is a 3d-ish side view in which there is a centralized field and a list of the units on each side. Each unit chooses a unit to take the field, with the attacker going first. When the units take the field, any archery units on each side get a roll to decide if they get an attack an how many. After that any seige engines get to attack if there is a tower present(when you attack fortresses or cities). Then bless, curse or any spells are usually factored in. Each unit attacks the other until one is destroyed then if you have a unit with a heal capability, it will heal your unit 1 to 4 points if it is still alive. Then the round starts over.
With how they have set up the units concerning specialization, that means that matchups are critical because certain units will do better or worse against other units. Bonuses can make a huge difference. You have to pay attention to the order in which you put the units on the field, and not allow yourself to be forced into putting the wrong unit on the field at the wrong time while trying to force your enemy to field his troops poorly. It makes for an almost chess-like play that has added tons of depth.
5. Cities and fortresses get a fortified tower with a free archery unit that can attack each unit that takes the field. If the city has any other archers they also get an attack as well. The only way to get rid of the tower is to have a seige engine that destroys the tower. This means that cities and fortresses are twice as hard to take.
6. Powerul units take much longer to build, while s two or three set of experienced low production troops can be deadlier than a higher rated monsters. Which lends itself to two overall strategies, produce many low rated troops until you get a stacks of experienced low rated troops. Or wait and build a smaller army of high rated troops.
All in all, this game has surprised me in how they have really nailed the overall TBS strategy concept. Maybe their taking notes from Galciv!