It's definitely not a game using a new engine, that's for sure! I wonder if it'll take place in the Armored Princess world (in the vein of Crossworlds) or a whole new world. I'd probably bet my money on the first, but secretly hoping for the second.
As for runic magic, I wonder if it's not something along the lines of what the dwarven faction had in HoMM V. You can see a kind of wheel or runic symbol has replaced the dragon, so it might be the same thing.
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