I would say I enjoy the beginning, the middle of the Journey and the Destination.
The first turns can be great fun, however I like the greater decesive battles in the middle game and the time when you have succuded in your faction victory conditions and its time to conquer the world pluss you can start roleplaying massively (this can be different with some factions: with the Romani and the AS you often have most of the map under control by the time you achieve the victory conditions).
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