Gameplay wise, AoWIII is actually the best, for my money, as long as you have the expansions. By far the most complex, interesting and fun tactical turn-based combat, and this game is all about tactical turn-based combat. Also the best random map generator, best tactical AI, and the most variety in what you can play. (Older titles have more races, but AoWIII adds classes which have a huge impact on play.) On the downside, it has slightly smaller armies and less powerful overworld magic. (Still quite interesting, though.)
That said:
AoW1
+ Great style and music. Lots of charm.
+ Fun campaigns with multiple endings and paths to choose from.
+ Various neat abilities/features that for some reason didn't make it to later games. (Explorable dungeons in particular. Later games have dungeons, but they're far more like normal combat maps.)
+ 2 underground levels for truly maze-like maps.
+- Focus on armies of powerful units and especially super-powerful heroes.
+- More static maps: can't found or develop cities.
- Clumsy UI with lots of clicking.
- Fairly weak AI.
- Some tedium
- Iffy balance (There are mods which may help, though these typically change the game quite a bit.)
AoW2 & Shadow Magic
+ A random map generator, though not as good as the one in AoW3.
+ New stuff like quests
+ More detailed graphics and some good unit art direction.
+- City development is much more complex and you can build new ones.
+- Focus on magic and domains that extend through Wizard Towers. Leaders stay at home and cast spells rather than lead armies.
+- The Shadow realm in Shadow Magic adds a layer of complexity on the strategic map. But it has some balance issues.
+- Very different style and music. I prefer AoW1.
-+ Much smaller battlefields and quicker battles.
-+ Units now have voices or sounds! Jay! But half the voices are incredibly annoying. Boo!
- Weaker campaigns. Shadow Magic has better ones than Wizard Throne, but I like the AoW1 ones much better.
- Generic good/evil/neutral priests instead of race-specific ones. Seems like a small point, but annoys me inordinately. Say you play Dwarfs or Goblins, but then you get a generic human-sized priest. Fortunately, there are mods that fix this.
Both games are good. I prefer AoW1 largely because I prefer the style, and don't really care for the focus on the wizards and the wizard-tower mechanic in AoW2/Shadow Magic. But it largely comes down to that style thing. Many people swear by shadow magic.
AoW3 is more like the first in style and feel.
Both games have lots of custom maps in existence you can download. Some are very good.
I haven't played that much Master of Magic, but all in all I'd say AoW2 is slightly closer, though all three games are much more combat focussed.
Post edited May 17, 2016 by Jason_the_Iguana