It's a pretty straightforward fight, meant to showcase the Lore rules and introducing the Wizard Loremaster and his Lore cards.
As it turned out, the Lore cards had remarkably little effect on the proceedings. In part, this was simply because a level 1 wizard isn't all that powerful, the Old Warhorse rolled sucky dice with his spells and the Young General turned out to be a Lore miser.
I'd noticed this trait in other games, such as Monopoly, where he was overly reluctant to part with his cash, but here it was really pronounced. He loved accumulating Lore but hated to spend any of it, despite the Old Warhorse pointing out that there was no end-of-game bonus for having more More. If the Old Warhorse's spending on Lore had provided more obvious benefits the argument may have carried more weight, but altogether the Lore spells just picked off a stray figure or two and didn't leave a big impression. Even the Fireball and Creeping Doom didn't do much, between the level 1 loremaster and poor dice.
The game ended up being decided the old-fashioned way, with cold steel and Mounted Charges leading to a 6-2 flag win for the Old guy.