There's plenty good and not so good about this game, and it really takes the idea of alternate history and allows you to basically do whatever you want. (Parentheses are examples)
+ Change History! (Romania kings of the world!!
+ Easily understandable, especially to new players in the strategy games like these.
+ Fun to crush every country around you with your massive military might (YARGG)
+ Follows ideologies to connect to follow the historical path (AI UK actually allies with AI US and AI France)
+ High mod support (Canadian colony in Somalia in an 1861 scenario!)
+ Many different types of units to be built.
+ All those factories are making me rich!! (Bucharest is more industrialized then New York, London, and Berlin Combined!)
+ You can form rediculous alliances (The Swedish alliance containing Sweden, Liberia, Argentina, and Bulgaria)
- No casus belli
- Declaring war too many times causes other nations to join in against you (I'm looking at you United Kingdom)
- The AI just builds up military and doesn't really care about economy (Switzerland at $-200,000,000,000 at end game)
- Rebels too easy to crush (Why wont you let me become fascist Norway?)
- Countries only surrender to you if you crush them super fast with a massive force (I just want Ukraine not all of the USSR)
- If you ally with a nation ('Cough' 'Cough' AI 'Cough') When they declare war you're dragged into it as well, if you want to be in in or not
- AI sometimes extremly random (AI Finland at war with every single country but Hungary, AI Germany allies with AI Albania and kills AI Italy)
Overall though, fun to play and good to think about what would really happen if Luxembourg conquered South America