A plea and recommendation to Hasbro
Wow, all those niches of plastic minis (napoleonics, zulus, etc.) leads me to believe that it would be economically viable to make plastic D&D figs, despite the reported high initial cost of molds. I really hope someone from Hasbro reads this thread. I mean, Hasbro makes Axis & Allies; it's ideally equipped to produce mass quantities of cheap plastic minis.
When I was a kid there was a burst in popularity of small plastic vietnam war and WWII figures. These guys were slightly smaller than Grenadier lead miniatures, and certainly much thinner than a cartoony GW fig. But they were cheap, incredibly detailed, and came in a million poses (including Dead Guy poses). It'd be great if Hasbro released D&D figs in that style and scale.
Also, thanks to Wizkids, it looks like it's getting easier to mass-paint or mass-color little figs. The paint job doesn't compare to hand-painted quality when you hold the figures 4" in front of your nose, but when the figs are on the table you can't tell that one fig was painted by a machine in 3 seconds while the other fig took a skilled gamer 4 hours (not counting cleaning, priming, assembling, pinning, and basing).
And that, I think, is the key. Hardcore fantasy miniature hobbyists are going to play GW games, and that's that. They want all the crazy conversions, they want to paint eyeballs and individual eyelashes, they want to spend tons of time. The D&D gamer, I think, just wants something cheap and quick that looks like his PC.
True story: I've got some buddies here at work who are into board games. At lunch, we play Settlers of Cattan or a turn of Samurai Swords. So, when I got Chainmail and a few faction boxed sets, I talked it up and they were all eager to play. But we never played, because it took me 3 months to assemble and paint all the figs and by that time everyone had lost interest (in fact, I still have to paint Naresh. Sigh.)
Lesson: Chainmail 2 should be playable out of the box. No assembly required, no trips to specialty hobby paint stores required, no long hours spent learning how to paint required, no getting uptight when other players pick up your pieces and might mess up your paint job required.