[The Panther]

The real problem is that once Caelum gets false horrors, which is not all that far into the game for the fastest researching nation, it gives that race a supreme advantage. A single Seraph can kill up to 10 PD reliably, except perhaps for Ulm or Jontunheim. And a Seraph with 2 archers can take those two nations too, losing maybe one archer in the first volley to Ulm and losing nothing to Jontun. Even if you lose one raiding force and take only 9 of 10 desired provinces, so what?

In what is still early game, Caelum can therefore take pretty much any province against ANYBODY that can be reached. Want three enemy provinces? No problem! How about 6? Getting harder, but sure. Ten? Yup, I have done that and more in a single turn in an MP game. It cannot be stopped without having a castle in every province.

As long as fliers can jump over provinces AND attack in the same move, flying will be an unbalanced ability. Thus making Caelum the best race for the early game and deep into the middle game. As for the end game, it may no longer be best, but will still be in the top 5 because of the early game advantages.