Pemptus: Wasn't this riddled with horrible bugs and broken mechanics due to being rushed?
I might be thinking of another game with a similar title though.
POLE7645: I remember it being being developed for four years. And it was being reviewed as something ugly, that smells old, that should've came out long ago and that should cost 30$ or less.
But it seems like it has been vindicated by history as generally decent.
As other's have said, you're probably thinking of Dungeon Lords. Wizards & Warriors got decent reviews, if I remember it correctly.
I bought it on release, actually, but I could never get into it.