Yeah Ultima just fell so hard, it bloody hurt seeing what Pagan was when compared to what Serpent Isle and Labyrinth of World's had conjured in me minds eye.
And if Pagan wasn't enough, then we got A... A... Asc... No, sorry, I can't even type it in the same post as the word Ultima... But this one was insidious. It looked awesome at the start, a nice proper 3d environment, and then, it becomes a bad Zelda game on pocket-sized maps... I could deal with Pagan as a side excursion, but this? Ugh.
Might and Magic got hit pretty bad with the curse of episode IX too although X seems to have managed to go back to some of the roots. Haven't played X yet, but the wife enjoyed it. Wasn't enough to fix the damage IX did though, so the series is pretty much dead now apart from being a vague franchise name.