You can pretty much think of Military Madness as a lost branch of Nintendo's "Wars" series, except with a hex grid rather than a square one, and the fact that you can't build new units (but you can capture factories to repair your existing ones). There are a few new mechanics, though, such as granting bonuses depending on the number of units surrounding your attacking unit and your units becoming a bit more powerful each time they engage an enemy and survive. However, the online manual is surprisingly unhelpful in explaining these things; in fact, it doesn't really tell you much except about basic moving and attacking. I guess they were just in a rush to get the game out or something.
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Recommended if you like strategy titles. Try to find a guide or a manual before you play, though.
UPDATE: Found a pretty good site about the game and its mechanics
here. There are a lot of broken links, but you can check out the manual scans for specific info.