I recently played through the Might and Magic IV/V again and I still love them to this day (I personally love MM7 the most though) due to its world. There's just something about Xeen that makes it seem unique from any other place I've been to.

With that said, there is something on my mind.

Why did Sheltem ever need to disguise himself under a mask? Why did he take up the name of Alamar? I know it could be because of Corak, but it's shown that Sheltem has gotten stronger and with Corak under a stasis, he pretty much had his victory secured.

I'm beginning to wonder if there was ever a point to the Alamar persona and if it was only done as a attempt at having a surprise plot twist that you weren't expecting. That seems to be the only reason for it.

(MM1 spoilers)

I think it's a reference to the first game in the series, in which the disguise actually had a point.