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You forgot a disadvantage! Once you have several vassals of your Dynasty and a Realm size of over 100, you will have 20 to 30 year long succession wars and do nothing between taking the throne and dying other than putting down rebellions and imprisoning your kin. I am confused and cannot figure out how to make sense of vassals of your dynasty being so ambitious and rebellious. A large kingdom ruled by a Dynasty as vast as the modern Saudi one would be completely uncontrollable in-game. I think that succession wars need to be tweaked a bit.
Just finished my first game till the end (1453). I reloaded last autosave and checked realmtree, there is one guy with 5%, all the rest duke/counts (all of them) have either 1% or 2%. I managed to get crowns of Ireland, Scotland, Wales and England, however there were 3 more counties in the greater island, no time to move into France at all. I only chew slowly though, never do inheritance planning.

With this system whoever rebels goes into the cage pretty quick so for me 'Duke' is not a scary concept any more. Can't wait to start all again to do better with culture switch and vassal management from the beginning.
 
When Henry VII (von Luxemburg) was elected emperor he was a simple count of Luxembourg who had had to become a French vassal to get protection. There had been a couple of counts before him but they had only been Kings of the Romans, not Emperors (due to not being crowned by the Pope).

That's some interesting information. Thanks, man. :)