I played the leaked alpha version and though you could do almost nothing and had only haven, it was great anyway!
What made H4 bad for me: 4 towns, with 5 unupgradeble creatures, H3 had 8(?) with 7 upgradeble creatures.
Between those 4 towns there was no balance.
In the beginning heroes where too weak, at the end too strong.
And some more stuff, dont know atm.
H5 will restorte all of those, im sure.