This is an OK game. The second one is much better because:
1) The weapons are easier to upgrade. 2) There are two levels of difficulty .
3) You pay a one time fee for a ship and do not pay over and over.
4)The map is bigger so there are more cities to conquer.
To some it up: PLAY FEUDALISM II!
Tip:
To make this game incredibly easy, get 82 strength and Greek Fire. Greek Fire is the most incredible weapon in the game. I took the capitol of the East Empire without taking a single point of damage using Greek Fire of Thanatos +10. This is an upgraded version using an Oculut Rune.