It's a good strategy game for those, who like challanges. I'll make my review positive only for that, because I don't like this sequel. Here is why: the overall story is really bad.
When I say bad, I mean REALLY BAD. The dialogs are cranky and jokes mostly based on the fact that the main character is a woman. Isn't that bad enough for you? Well, remember that box full of guardians you had in The Legend, which was so much powerfull back up for the main plot? Here you got a pet dragon! Yeah, you get him RIGHT on the beggining a-and... nothing. It's just same box, but looks like a dragon. No dialogs, no cool sense of something awesome (because you always can have a dragon or two in your army... i mean, seriously, just a dragon?). Yeah it's cute, so if you like ponies or something you can get the fun of it (before he become grown up).
So I'd better buy The Legend again and play it one more time (plus to another 2 times i played it before). I still return to this game sometimes to fight the battle or two, but I can do it by playing HoMM3 with my friend, which is more preferable.