I haven't played AoW, but I can tell you I like the combat in LH as is. Now I have played more complicated combats systems in both computer and board games and enjoyed them. However, the simplicity and elegance of the combat in LH keeps the game moving. There is enough to the combat system to make it fun without bogging down the overall game.
Now, in fairness, there are some who feel like you do and crave a more complex combat system in LH. I (and certainly others) don't share the view that adding complexity here will make LH a better game.