My initial thoughts on LH after having played a while with the 0.80 build.
I like
Heroes are acquired via Fame now. I haven't quite decided if I like the timing of the heroes arrival, maybe it would be nice to have some randomization to when they show up so you didn't always KNOW a certain building was going to net you a hero.
I don't like
The swarm mechanic....it is too easy to abuse. It is hard for me to evaluate the combat balance in general because swarm mechanics seem to be more effective than other factors. Obviously stronger units are better, but you always want to have the most and fastest units to abuse swarm.
Some of the weapon special attacks didn't make sense to me. Spear's piercing attack that goes thru 2 ranks of enemies seems implausible and more suited to a lightning style attack. Spears should probably have a high damage critical attack since they poke internal organs rather than clubs having the double damage attack. I didn't think the old system was bad before these special attacks were added.
I know this beats half the point of LH, but I don't really like the promotion tree. When we had random choices of promotions, you had to make a decision because there were usually 2-3 you wanted out of your selections. You might not see a rare promotion again for a while, so you had to make a choice. With the predictable promotion tree, you just determine the optimal promotion path and repeat it ignoring all other promotions.