I would love to see a rebirth of War of Magic. While saying that its reception was bad is an understatement, I still think that a few more months of developement,more stability, more focus, and an improved AI would have produced one of the greatest 4X of all times.
WoM had this amasing feel of a barren and bleak world being "healed" by the player. It had this stylized look that gave the feel of playing inside the illustrations of a fantasy book. The cities were visually amazing. While all factions were humans, elves, dwarves and orcs were here, in disguise under their human skin. The dynasty system, while underdeveloped, was a great idea. All the systems of a fantasy Civlisations were here, just unfinished and unrefined.
Lastly, it had (at least for me) one elusive thing that it shared with MoM, the diversity, the feel of wonder.
With the initial reception to WoM being what it was, I think that Stardock's reaction was to cull the game through patches in order to stabilize its core. But in the same time it was sanitized, it lost something.
If a WoM return is comercially viable, please, make it happen !