I decided to try a challenge for my latest game, I've never played as a republic and I've never converted to a new religion during the reformation. So I decided to try Holland and eventually aim for a reformed, admin republic Netherlands. It's 1475 and I've formed the Netherlands, got most of my cores from Burgundy and I got QFTNW and colonized The Canaries (colonial range too minimal at this time for even Portugal to colonize the Caribbean or NA/SA).
As I've said I've never changed to protestant or reformed before so I have no clue what to expect. As it is right now my economy is really fragile, even the slightest blip and I simply lose all money and power. I allied with France a while back when they were crushed by a war with Burgundy and they are supplying my main source of protection. Right now my forcelimits allow for a decent military about 2/3 of theirs (which is roughly the same as England and Austria). I know that converting to reformed will make them hate me so that leads me to my first question.
When is the best time to convert? I know that I'll be the largest reformed nation and I'm wondering when during the reformation is the best time to minimize diplomatic chaos. Also what is the direct relation decrease associated with converting?
What type of economic chaos does converting have? I only have 8 provinces, so most of my money comes from trading, how can I expect my trade and tax/production income to change with the conversion?
Is it possible to have the entire HRE gang up on me? As it is right now I could probably manage a war against Austria, but not Austria + Bavaria.
Thanks in advance.