I'm putting my Money where my Mouth is (As opposed to Pacov who puts his Soap where his mouth is... ooh burn!) and have started work on creating a balance mod for Demigod. I have a thread currently in the Mod forum, and if you'd like to contribute to the process of re-balancing the game, please post there. Try to be constructive where you can.
Quick Link to the Mod Thread
In order for a Mod like this to succeed, it needs to be adopted and played with by a large number of people, which means we need to make it universally appealing. In this vein we are going to try and keep away from 'drastic' changes, and simply help the game run smoother and more balanced. You shouldn't have to re-learn the game to play the Mod, but you may have to rethink your choices a bit.
If you want to discuss general balance ideas here, without worrying about cluttering up the 'official' mod thread, please feel free. I would ask that you only post in that thread if you want to be serious about it. (Of course you'll do as you please, I can only ask).
Hopefully the combination of player support, and the new modding tools, will allow us to make this good game, into a great one!
Thanks to all who contribute.