From personal experience, random events make games immensely enjoyable. They add a measure of unpredictability that is really neato.
I, personally, prefer random events that are actually...impacting. Perhaps the orc faction is going smoothly, and a sudden upstart arises, challenging the orc lords for supremacy. The return of the challengers to the throne (M-something, I can't remember the spelling) make life difficult for the humans. An elven councilmember dies, resulting in his/her child, who never liked you really, decides to settle things permanently.
Other randomness that should exist, I feel. Migrant peasants from one nation to another. Bandits that plague the roads and lurk in the forests. A sorcerer who unleashed a pack of demons that begin to ravage the land. There needs to be a level of just...stuff that happens.
Let's be totally honest: there are two kinds of strategy games. One where the players ARE the controllers, and one where the players are merely...players. The world itself should not merely yield to whatever the players do. That's not fun, it's boring.
Arise, like the glorious phoenix!