I wouldn't delay if you want a copy.
The Components
Leaders of Small World contains one small cardboard sheet featuring octagonal cardboard chits for 24 leaders--which includes leaders for all the races in the main game, leaders for all the races in 2009's two mini-expansions, and a set of generic leader tokens which you can use if more races come out in the future (or if you make up your own).
The leaders are printed on linen-textured cardboard, pretty much like the coinage in the original game. (In fact, you can fit the leaders in the extra coin space in your box, if youre desire.) They all feature the artwork from the original race banners.
As a result, the components for Leaders of Small World are good quality and very attractive (if a bit tiny and slightly expensive, even for the $5.00 shipping & handling fee, though I presume they were originally given away at Essen). Nonetheless, they earn a solid "4" out of "5" for Style: nice.
The Gameplay
When you choose a race in Small World you may also choose to buy the leader by expending a victory point. It acts like one more token for the race.
At the end of your turn you can't leave your leader in a space that's invulnerable to attacks.
If an opponent attacks the space with your leader, you lose the leader instead of a regular token. You can (immediately?) pay one victory point to get the leader back or else your opponent gets to keep it and earns 2 victory points at the end of the game.
The leader goes away when his race goes into decline.
The Game Design
I was somewhat underwhelmed by the leaders. They certainly didn't hurt play any, but they also didn't make much difference for your own races. I'm not entirely convinced that they're worth 1 victory point ... but I suppose if they let you take one extra terrain some time during that race's rise to power, they pay themselves back.
I was more interested to see how the leaders became targets. Other players would purposefully go after them to get those low-hanging victory points. Of course these neat game dynamics might further decrease the value of the leaders.
I could do with or without the Leaders of Small World and thus I've given this supplement a "3" out of "5" for Substance.
Conclusion
Leaders of Small World is a mostly harmless expansion for Small World. It doesn't add a lot to the game, but some folks may enjoy the new color. If you play a lot of Small World it's probably worth it just for the variety.

