Its true what some said - campaign is simple... ...but If you want challenge were every set up trap counts, and each spell can save you from dying and digging tunnels in very smart way is necessity, try playing single mission on impossible level. Then games is more like - 'how many attack waves can you survive '? Even if I was restarting about 20 times, still found it enjoyable, each time trying slightly different combination of strategy. And in this madness of defence, try to find spare resources and time to send troops on the surface - who will manage to do that, can truly be called DUNGEON MASTER
As for many, this is the game of our young years. All is great as many people mention. There is one thing though - Game fighting AI is....well, doesn't really exist. I remember doing so much damage to my opponent just with few units. Program can give you feeling that army is added for fun, but not actually properly implemented. Score - war aspect of game 1/5 , economic and building 5/5 - in average 4/5 (don't ask for maths :p )
(based on 2 out of 8 campaigns) I can't believe no one mention this but game is SOOOO EASY!! Even campaign from original game is much bigger challenge. I guess this game is mostly purchased by veterans who just want more of HoMM3, so it will be even more frustrating for them. Only few first mission are bit of work, but as soon as you get heroes little bit trained, you can easily start each one on impossible level. Only one plus of the game is that the campaign is well written, so I've end up playing just to find out the story itself. I only manage to finish first chapter (there are 8), my brother finished second, and we both don't want to waist more time.....so I'm going now to continue fulfil King Archibald tasks from HoMM2.