I started to play this game in autumn 2010, many years after its release.
Didn't had too much information about it, apparently almost nobody ever heard of it (the only exception, a romanian gaming magazine called Level), but I did discover while playing that is surprisingly good and so much fun.
Easy to learn and not too hard to master (although it's not a quite simple game), intuitive, balanced, sometimes challenging, in rare occasions frustrating. Very atmospheric music, too.
Some hilarious speeches also.
Diplomacy could of been a little more elaborate (but it's far better than M2TW), the presence of some minor bugs, multiplayer limited only to battles - those are the things that should of been better.
Best part is the strategical component of the game, worst part the tactical component (the battles).
But, all in one, I'd recommend KoH to anyone who likes a good medieval strategy, it's a game that definitely worth the time spent while playing, I still enjoy it every now and then.
Too bad the bulgarians from Black Sea Studio didn't release a Knights of Honor II...