No, it's not. It's quite different. It's a turn based strategy game, you move army stacks of up to 8 units around on a campaign map and when you do battle with an enemy army you are taken to a battle screen where you move and attack each unit individually, again on a turn by turn basis.
It isn't 3D but the graphics are pretty and there's quite a bit of character to the game structure and the individual units. I must say that after a couple of quite tough scenarios the one I'm playing right now has been much too easy, or maybe I'm just getting better at it. So I'm not sure how the game will eventually play out.
However I did play the previous game, Age of Wonders II, right through to the end which is a rarity for me in games. And I did that even though the challenge wasn't that great. Somehow the game manages to keep me interested turn after turn, not sure why really, I think it's partly because it's pretty and well done and partly because there is always some short term goal you always think you're just a few moves from completing, LOL.
You can probably download a demo of either it or the previous game AoWII somewhere, have a look at one of those and see if it appeals.
Oh and in answer to your other question, Shadow Magic is not an expansion, it's a standalone game.
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