The successor Medieval 2 is arguably the high point of the entire series.
Rome 2 Total War was sadly not nearly as good; it may be playable at this point, but I was very disappointed with it.
[1] http://www.twcenter.net/forums/forumdisplay.php?26-Rome-Tota...
The original tech was awesome. The people at the studio are awesome. The Sega > Creative assembly executive teams, not so much.
I hate to give such an uninformed perspective on here (where expertise is valued so highly), and I hope people will correct me if I am wrong. But skepticism, assuming it's not blind and unchangeable but to ensure accuracy, is usually a good thing.
Still some fantastic games, though. Wonderful, very satisfying and engaging tactical strategy.