Whitecroc: The game's great fun, but it's lacking... soul. The music is average, if fitting, the skill tree not all that logical, the translation is ridiculous and most of the focus on the story has been lost. I'll admit, I was pretty young when I played Heroes 3, so I don't know if there was any quality to the story, but I enjoyed getting a new short story every few turns. Not to mention how buggy the whole thing is. The Inferno unit summoning bug went unfixed for months... Makes the campaign pretty difficult when summoning reinforcements is assumed a part of your strategy.
Still, it's been a while since I played it, and I've got it on Steam. The judge is still out on whether it's better or worse than HoMMIV (which I enjoyed immensely, myself), but it's not a bad game, just... soulless, as I said.
I'm sorry have we played the same game?
I have played the complete edition of V with all expansions and fixes and the campaign is without a doubt better than III
The game actually has a storyline you give a damn about, every mission something actually progresses something and the game actually has CUTSCENES instead of Walls of Boring text like III (yes I know III also had CG cutscenes but it's not the same)
The ending of the Original V game actually makes sense and ties in well with Dark Messiah of Might and Magic
The art direction is another thing to discuss - some people like it, some people do not
I personally do and think it works very well