Recently bought warlords 3 on gog and first what I saw was that few things are on ok whit the graphics.
First the screen is to wide, easy to fix by editing dxcfg which is on this forum.
Second: all animations look like they are maby 3 fps and some are missing at all lke arrows, getting blows or being assassinated.

It apears that it can be fixed by editing dxcfg.exe and changing windowed parameter to fullscreen. At first it looks like it broke the game becouse the mause stops working. But do exactly this:

Open the game in 800x600, higher resolution dosent work
when the opening movie starts press esc to enter main menu
the mouse dosent work
press return to windows key
return to game
now the mouse works and you can enjoy warlords 3 the way it should be