Finding iron requires luck. Sometimes there's a teensy bit on the surface, or maybe just underground. From my limited experience, I have no freaking idea where you can find it.
I hate water. It's all, "Oh, you have glowsticks, but if you throw them on the ground, you can only pick them up 1/4 of the time," unless you just toss them from your inventory and risk them all just getting picked up again. And the water physics are all wrong. If there's a J shaped tunnel filled with water, it should balance out to a U, not remain a J.
And gold and silver are stronger than iron. wat.
The "A Wizard Did It" trope has been around just as long, perhaps longer.
It is seeded pretty randomly. Pretty much the deeper you go, the bigger the random deposits will be, so go as deep as you are comfortable, and then start digging up every unexplored piece of real-estate, including draining pools of water.
True, but really there's almost no game, sci-fi or fantasy, that has realistic building in it, which is what I mean. For most game systems, it's all fairy dust or unobtanium.
Would it make sense if I was holding everything to the standards of Dwarf Fortress?
Now, if there were cats in the game...