tl;dr Yes, but with a warning below.
Age of Wonders, despite the age, is still a worthwhile game. It can appear deceptively simple at first, but as you begin to chip away at the abilities and magic system, you realise just how important deeper knowledge of the game mechanics can be.
A lot of the game has been covered by other reviewers. Essentially: turn based fantasy strategy game with empire management. Unlike the sequels - and many other games of its type - in Age of Wonders if your leader dies, you lose the game. This adds an extra layer of risk - your leader is powerful and can take down many basic units, but one wrong move and the game's over. It can sound cheap, but it really puts the stress on in major battles, something other strategy games miss out on. There is an option to remove this for the skirmishes, if you're not keen on it.
THE WARNING: this game, as it sits on Steam, is faulty. It crashes a lot - A LOT. Some people are fine, but looking at the reviews and the forums, it's wide spread enough for it to be an issue. You can fix this with a Hex editor. Now, I know some basic fixes are acceptable, but having to use a hex editor to fix the game is not. I imagine a lot of people out there don't know what a hex editor is, or how to even use one. Furthermore, I don't see any reason why this can't be done on the developers end - it took me two minutes, and would save everyone else a lot of headache.
Anyway, if you know what you're doing, this thread has the instructions: http://steamcommunity.com/app/61500/discussions/0/864973123853580717/
I very nearly put this as a thumbs down, but the cheap price, brilliant gameplay, and the fact that a fix is available - courtesy of the fan base (which, by the way, provide more maps and content than you'll ever manage to get through), I really can't bring myself to do it.
Thumbs up, only just, though.