I'd make the point that a spiritual successor to a 1992 game cannot be better graphics alone. MOM got combat, both strategic and tactical, almost perfectly right. It was what made the game great, but it was about building your killer units as early as you could, and then taking SODs out to crush your opposition. There was no economy of note, other than gold and mana. There was no commerce, there was no improving resources. Recall, there were resources in that game, light diamonds, gold, iron, mithril, and adamantium. That game had a lot of resources, but you didn't do anything to them. You settled your city by them, you got the benefit of them, and they were applied locally to that city with the construction of the proper building (nightshade needed a temple, mithril needed a smithy, etc). In a lot of ways, the MOM economy is what we have now, in EWOM, almost exactly.
But this was a 1992 economy model. A 2010 game should have more depth to it, IMO. MOM was very unbalanced in its strategic combat; there were killer combinations that made a win, even on impossible, almost assured. Tactical combat also was weak, with AI simply marching to whatever it considered to be the strongest threat, and grinding itself down on it. If Stardock allowed EWOM to have that tactical AI and that strategic AI in a 2010 game, very few of us would play it. AIs have come a long way, and strategy has become more deep than "build the biggest stack and go crush everyone" of the 1992 genre. There is stealth, diplomacy, technological advance (which MOM didn't have, recall. No tech tree in that game, only a magic tree), terrain control and effects, and a host of other gameplay improvements.
Opposition to a deeper economic engine seems to stem from not wanting things to be too "complex". Let me try this argument; we wouldn't want EWOM to exist without the "complexities" of these added gameplay elements that have come into being since 1992. Why would we want EWOM to exist without more complexity in the economics as well? I don't see how economic depth gets in the way of fun; I see it as another balancing act that needs to be paid attention to, like where my scouts are, what units I'm building, and what allies I'm trying to make. I don't see anyone arguing for a simpler diplomacy system, or a simpler exploration system (yeah, just abstract exploration. Start with an FOW, and just expand it 2 squares a turn out from my cities. Who has time to build all those scouts and send them out, that's distracting from my gameplay!)
"Old Man" Winni ("bah, in MY day, we only had zeroes to program with, and we LIKED it! You kids and your fancy "ones". Who needs 'em?!")