I see it more as leveling the playing field. THe Germans are slightly more advanced than OTL, but not much, a couple of months perhaps, as are the Soviets. The Americans are slightly behind OTL, and the French just lost their homeland. No changes for Japan.
Not even mentioning Italy... Benito will not like you.
Weeeeel... You may not like it.
If I don't like it I'll also give you something you'll not like: French cheese.
BTW, I engaged in a ship design discussion with El Pip a few days ago regarding your Severn. I'd like to share what I got from the discussion to you. However I know that it's not nice to give you extra thoughts to think of right before your finals, so tell me when your finals are over, and I'll send you the stuff.