I didn't play the original Bard's Tale games back in the day, because they weren't commonly available here in the UK (or at least, no-one I knew ever mentioned them). I happened across Might and Magic when a friend's father brought a copy back from the US, and it is that series that forever holds a place in my heart.
However, I understand that for many folks, Bard's Tale was for them, what M&M was for me. And I suspect that audience may be the most disappointed. Conveniently, M&M also had a new-ish game (MMX) which makes for a good point of comparison
What the kickstarter for BT4 *seemed* to promise (at least from the videos I saw, and all the old-school talk that accompanied it) was (roughly) MMX with drunken bards (I'm in!). This would have been a good fit for the original series, as the BT series never moved beyond step-movement and turn-based fights. I think that the majority would have been satisfied with such a game, even if it didn't really tread any new ground (much like MMX - I very much enjoyed it, and wished there were more of it, but equally, it was never trying to be more than a poloshed indie title).
What was delivered was far more akin to MM6-9, and of those, MM9 is the closest reference point. MM9 also happens to be the most reviled/divisive game in the M&M series. MM6-9 moved the series into free-movement first-person 3D, with fixed/visible monsters but more limited initial character choices (although these did mushroom nicely during gameplay).
MM9 is the key point of reference though - it was a full-screen 3D first person game, built on a licensed FPS game engine (like BT4). it offered only very basic archtype character creation (like BT4), although this grew as the game progressed (as I hope BT4 does). It was also buggy at launch, and not really what fans were expecting (much like BT4).
Unlike MM9, BT4's tech is much more mature, so the game doesn't feel like trying to push a square peg through a round hole in the way MM9 did. Also, it's no where near as janky and unfinished as MM9 was, so it doesn't need to be as reviled as MM9. However, just like MM9, if you go in with an open mind, there's a lot to enjoy, and plenty of M&M goodness within, just not presented in the way you'd hope.
If you can enjoy it for what it is (a more polished MM9) and not for what it isn't (MMX) then you'll enjoy it. Otherwise, stick to the BT1-3 remasters. Your BT4 was Devil Whiskey (google it) or perhaps Sword & Sorcery Underworld, both are worth checking out
