It depends on your class. Mages probably shouldn't upgrade soul drain (probably only to the point where it kills 30% for 20 rage) OR black hole (potentially not even past the first upgrade, it gets really expensive pretty fast) too far, as it starts to cost too much rage for them. Warriors can more or less ignore rage drain because they will be getting plenty of rage from other sources. I can't say for Paladin, though (I've never played as one, preferring to either have awesome magic or awesome troops and not a weaker version of both).
On another note, I too ignored time back for most of first game, until I found out how amazing it is, you are not alone.
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