I think it's more that the story of Shadow Magic doesn't make any sense without that of Wizard Throne. (Honestly, I'm not sure how much sense it makes WITH that story, but that's the same old thing Greyhunter said, where you need extra explanation from out-of-game sources to really understand the story. )

Mm.. maybe I shouldn't skip WT then, even if the story is still a mess. Does it end with a cliffanger even?
Btw, I hate standalone expansions >:(

It's been ages and ages since I played WIzard Throne. But no, I don't think it ends with a cliffhanger. It's a self-contained story.

Shadow Magic tells a separate story, but if you start there you'll have no idea who Merlin is, or why Meandor is doing the things he does, for example. But if you're willing to take those things on faith, the rest of Shadow Magic's story works perfectly well on its own.

I have played shadow magic a bit, but never liked it as much as AoW 1. For some reason AoW 1 has not aged a day. It still looks great and beautiful to this day. Music doesn't age either. I recently booted it up to test something and before I knew it I almost finished a campaign mission. :P

Even if sometimes old games feel a bit clunky, I must say that I enjoyed AOW1 without problems : )

Well... there is certain magic to old titles. Like I mentioned (maybe, I don't even remember myself), but I spend some time with my friends playing on random maps in SM. I enjoy it greatly, but I can understand different opinions. ;)
But still - not sure why would anyone prefer Wizard Towers mechanics. They basically cripple your leader cause it's 'not worth it' to take him out of capital. And heroes are even more needed, for sole purpose of spreading influence. Could be worse, but...

Well, one question to old veterans here - is there, somewhere, a whole 'story' of the lore? As in - historiy of the world, races, canon endings etc.?

As far as I know nobody has compiled all the lore into one easily accessible place. Here is a list of links to the relevant info.

Timeline leading up to the first game:
http://aow2.heavengames.com/gameinfo/story/aow1timeline.shtml

A recap of the first game's plot, with several more links to short stories set during that time:
http://aow2.heavengames.com/gameinfo/story/aow1story.shtml

Another link to those short stories:
http://aow.heavengames.com/gameimages/protagonists.shtml

All endings to AoW1. The Halfling-Dwarf-Elf ending is the closest to canon:
http://aow.heavengames.com/gameimages/campaign_endings.shtml

Intro to The Wizard's Throne:
http://aow2.heavengames.com/gameinfo/story/index.shtml

Racial Description from TWT:
http://aow2.heavengames.com/gameinfo/races/

Racial Descriptions from Shadow Magic:
http://www.triumphstudios.com/shadowmagic/newraces.php

Brief Intro to Shadow Magic:
http://www.triumphstudios.com/shadowmagic/story.php

Recap of Shadow Magic and Timeline leading up to AoW3:
http://aow.triumph.net/lore-galore-age-of-wonders-world-timeline/

Forum post from Raymond Bingham (rayb AoW) exploring motivations of the Humans and Highmen:
http://aow.heavengames.com/cgi-bin/forums/display.cgi?action=st&fn=29&tn=5537&f=29,5537,0,0&st=0

Another forum post that speculates on motivations of various factions. No developer confirmations of them, but an interesting read:
http://aow.heavengames.com/cgi-bin/forums/display.cgi?action=st&fn=29&tn=5537&f=29,5537,0,0&st=0

Here is an AoW wiki with a lore section, but it is very incomplete: http://ageofwonders.wikia.com/wiki/AgeofWonders_Wiki

That is all the sources besides those directly in-game that I can think of. If anyone else wants to add anything feel free to do so.

This thread on the Steam Forums asks the same question. It doesn't have more links or info than Greyhuntr's very thorough collection above, but it does include some very accurate... well, interesting... well, amusing summaries of history and geography by yours truly.

Thanks, to both of you. When I have the time, I try to read all of greyhuntr links and, maybe, try to sum it up. At least - it would do good to my authism in gaming.

And you are, generaly, right Jason. You just skipped the Golden Realms/Eternal Lords. :D

True, I did skip those. My reply was meant to provide background to someone about to start the original campaigns in AoW3.

The Golden Realms/Eternal Lords story is good, but I'm actually not 100% sure which ending is the canon one, which makes it difficult to summarise. I seem to recall it was the one where you side with Werlac?

Doesn't really matter, I suppose, until we get an AoW4.

I don't know if this is the one, but I heard it was confirmed by AoW staff that Shadowborns Ending is canon.

As someone who spent what must have been hundreds of hours in Shadow Magic (lots of wonderful mods and scenarios out there) I was amazed by AOW1.

The first game has several features that it would have been lovely to see in the subsequent games. Altars are great, gates being destructible only by units with the 'wall crushing' feat is great, the unexplored dungeons fights are great - it really adds to the mood when you enter a dungeon and can only see the part of the battle map that you're scouted. Even tiny thing like the blue hexagonal lines when you hover over where you're going to send your troops on the map look far better than the boring old yellow X we got in AOW2. And the music, so SO comfy :)

Well in AoW2 your leader is a Wizard, not a warrior
You have heroes for the battle fields; and they can become very powerful too
Personally I like the Wizard tower mechanic in AoW2