Ok, this is a bit of a rant. Why are people constantly talking about a Rock-Paper-Scissors balance between spearmen/cavalry/swordsmen like it's a magic cure? All other things being equal, RPS gives the minimum amount of diversity that will create non-boring tactics. I think that's why it's used in a lot of RTS games. It's an easy way to create a tactical situation that's reasonably interesting.
The Total War games have much more complexity than this. For one thing, the cav/spear/sword RPS ignores missile troops altogether. Then there is terrain, unit facing, experience, speed and morale - all as important or more important than any RPS dynamic in melee combat. I think this is a very good thing.
Of course every unit should have strengths and weaknesses, otherwise people will always or never use certain units. And if people think spearmen are underpowered, boosting their strength vs cavalry might be the answer to make them more useful. But increasing their anti-cav abilities isn't the only way - one of the most useful abilities of spearmen in MTW was that rear ranks could also fight and multiple ranks gave a defensive bonus. I'm not sure how important these abilities are in M2TW, but maybe adjusting them is another way to improve the usefulness of spearmen.
There seems to be an idea floating around that if only we can get a good cav/spear/sword RPS system then combat will be balanced. I think people should keep in mind that if a RPS system becomes the most important factor in unit match-ups, overshadowing the other factors above, Total War battles will become much less interesting, and all armies will end up having a similar composition.
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