It's called Elemental: War of Magic made by Stardock.  I like the strategy/rpg genre, and it looks like Stardock is bringing something new to the table.  The watercolor look of the graphics are awesome as games like these don't need the photo realistic look that most developers are leaning to .

http://pc.ign.com/articles/926/926924p1.html

I like Stardock as a company and have wanted to buy one of thier games to try them out (notibly: Sins of the Solar Empire) but haven't had enough money.  I may just pre-order this so I can get in on the beta in June.  That is, if I am not in boot camp during that time.

It's actually a sequel.

I didn't see any mention about it being a sequel.

they also made galactic civilizations which was also a very deep game

It's a game from '94, a mostly overlooked game.

Master of Magic was a great game at its time, but suffered from a lot of bugs.

Elemental looks very nice, i generally like that type of games (Heroes of Might&Magic, Disciples, Age of Wonders).