I think Balance is important but should be balanced against believability and flavor. To me the two extremes are 3E and 4E. The first isn't balanced enough in my opinion, the second is too balanced IMO and cuts into believability and flavor. I like some balance but with enough room to breath.
Agreed on 4E, which went rather too far IMO in the quest for game balance. If staying within D&D, I would make 1E the opposite extreme; strong flavor with weak balance. (Although the real poster child for flavor without balance is Rifts.)
3E is an odd case. It made a number of sacrifices in flavor to achieve balance; for example, you can't make legions of undead using animate dead any more, due to the hit die cap. And yet, because of changes to other parts of the system, game balance ended up farther out of whack than it was in AD&D!
That's an important thing to keep in mind: You can sacrifice flavor and not improve balance, and vice versa. The corollary is that you can often improve flavor without sacrificing balance.
Last edited: