Media and Games Online Network have a hands on preview of Myth III: The Wolf Age. Heres a bit:
The spell effects are also absolutely stunning with swirling shafts of light and glowing colours. One of the coolest effects even brings into being a miniature tornado which swirls around the target area hitting enemies with the debris swept up from the battlefield. This looks a lot like a massive food processor as limbs, weapons and other objects smash into the enemy ranks causing much havoc and gaining more mass as enemies fall and become a part of the maelstrom.
The action in the playable version of the code was interesting as it revolved a lot around formations, simple drag and click unit groupings and the need to always use the right units in the right situation. You must keep your heavy assault troops at the front of your formation while your lightly armed archers and spell casters rain death on your enemies from the rear and preferable from an elevated vantage point.