I got AoA several weeks back but didn't have any fantasy armies on hand. Shortly after that, I bought paper minis downloads from microtactix and went to work making a human army (knights, swordsmen, etc.) and dwarves. Last weekend, I finally had enough stuff printed out, folded up and glued together to play a couple 1500 pt games.
The human force for the first game had a good number of longbowmen (18), a regiment of knights, a regiment of swords, and a regiment of pikes. The stunties had two regiments of dwarf warriors, a handful each of crossbowmen and halberdiers and an earth elemental (using ettin stats).
Humans won the first game for a couple of reasons. Longbows in AoA are muy, muy effective - -caused a morale failure on the first volley at one of my dwarven regiments. Giant creatures are nasty but vulnerable-unlike in other game systems I've played. Dwarves had minimal ranged weaponry (still need to print out that cannon and crew) and their mobility is more limited than the humans.
The second game, I toned down the human archer unit, replacing the points with a sorcerer. Dwarf composition remained the same. Played to only six turns, this game was more of a draw.
The sorcerer kept out of combat but was only activated as an after thought since the Magic phase hadn't been so important during reading (I had wanted to use AoA for historicals as well) and there were no mages in the first game. Magic has benefits but it's not as overpowering as in a lot of fantasy rules.
Even with lessened numbers, the archers did well again (magic help with their shooting helped augment their smaller force). The dwarves did much better holding their ground (the morale loss in the first game was a fluke more than anything) this game. The elemental still bought it but its abilities at ranged combat and using the 'sweep' against multiple enemies helped it come closer to paying for its points.
Since this was the first time actually putting minis on the table with AoA, I played just to see how the system worked. I actually prefer the objective system that Thane has placed in the rules (every 2000 pts you get to pick an objective) and at the end of each turn you check to see if somebody has pulled off enough objectives to end the game and win.
AoA is very nicely done. The rules are decently organized and make a lot of sense overall. I particularly appreciate not having to buy separate army books (Thane includes a ton of 'em in the back of the book) or updates since the author agrees that these things aren't necessary if you have a good base product to begin with.
When you consider that the army lists are included and that there is a point system for genning up your own stuff, the game is worth way more than the asking price. While I doubt I'll ever be playing AoA in any official competition, it's nice to have a decent set of rules that my friends and I can plunk down some minis with and battle.
Right now, I'm looking at how easy it would be to play sci-fi skirmish (ala 40k, VOID, etc.) using the rules since units could conceivably play as skirmish units versus rank and file (RaF) blocks.