I suggest we decouple unit creation, training, and equiping.  I suggest we simply have X amount of time to gather troops, X amount of time to train, and finally a trip to the armory to equip.  Training time could increase exponentially to institute deminished returns while still maintaining the theme of unlimited research.  Units could remain in town and train at a reduced upkeep and only take up arms as they leave the city or in defense.  This also solves the resource problems associated with equipment.  The equipment is either in storage or not when the army is mobilized.  Moreover, the army could return later to upgrade equipment or scavage equipment from vanquished foes.  Now you are naming armies rather than units (e.g. 1st Spearmen, Gray Wolf Legion, etc.).  This style of naming can enhance the players attachment and the immersion quality.

This method could expand to other portions of gameplay as some buildings would speed conscription, certain heroes could improve the quality or speed of training, building and heroes could improve the quality and speed of weapon and armor production.  Anyway you get the idea... Thoughts?