This is likely a contentious issue.
Personally, when it comes to medieval fantasy I prefer the setting to be rife with sexism, racism and all the other kinds of bigotry that plagued antiquity. Multicultural societies should be have deep racial and cultural tensions, mixed racial and mixed species couples should be an anomally often met with scorn, women in traditionally "masculine" roles should be a rarity and discriminated against and so on and so forth.
The A Song of Ice and Fire setting would be an excellent example of this.
So the question I ask is would you prefer a setting rife with all the bigotry of medieval society or would you prefer a setting with more modern values?