For me, what made Master of Magic compelling was the attention to detail.
- When you researched a new spell, you got a neat little video of your chosen magician hunkered over their spellbook as it was hit with a beam of magical energy. Then, you see the text of your spellbook morph from some ancient and unknown language into a description of the spell.
- Your cursor was a hand clutching a magical wand which left a wake of magical energy as you clicked on the interface.
- Casting spells (at least things like global spells, summonings, etc.) came with custom animations for each, which did more than just make a unit pop up on the map somewhere. It made you feel like you had actually done something important.
- Those who have only downloaded Master of Magic and never owned a hard copy would not know this, but the game, when it shipped, came with a full historical supplement, detailing the world, the factions within it, and the history which had brought it to the point in time when the game begins. It was extraordinarily well-written, and only added to the immersiveness of the game.