I read this whole thread and must say, it was extremely interesting. I agree with most things said by HeroicSpur and Alfryd. I also would like more intricate AI for the heroes, where Majesty 2 subtracted from that rather than added to it. More of a sim, less of an RPG, I agree with all that. There are elements of Majesty 2 I like, but they don't include the hero AI (particularly how heroes will do nothing on their own, and will not defend the palace when it's attacked, even when you place a reward flag on it sometimes), the constant stream of monsters as compared to the first game, the small maps, and the lack of an option akin to the freestyle of the first game. Rather, they included the option to create parties (although I also like HeroicSpur's suggestion to leave it up to heroes - or perhaps heroes may decide to band up, but the sovereign can also enforce it, although I'm not sure. I'm rather a fan of zero-player games - they appear to be way too rare - and I don't mind giving up even more control than was already given up for Majesty as compared to regular RTS games), hero class progressions, tougher 'bosses', more hero abilities... and henchmen running from danger (to some extent).
Also ChienAboyeur, in response to your last message here... I don't think those elements need to be exclusive to RPGs to give them the right of being tagged RPG elements, as you put it. They are very typical of RPGs, not so much of other games, although those might - it is true - also use them sometimes. Otherwise we wouldn't be talking about Majesty, essentially a sim (or maybe an RTS in the case of the second game), making use of those elements. And even if you don't accept that, then you might still accept at least that that must be what Alfryd meant. After all, Alfryd also called Majesty 1 a sim and Majesty 2 an RTS, while still talking about RPG elements.