Well, I'm in early 1943. I decided to play roughly conventional for my first game. Here is my situation:
Germany never declares war against Low Countries and manages to crack through the Maginot Line and conquers France in February 1940.
Germany declares war against Norway but has a good portion of its navy shattered and cannot land.
Japan completely stalls in China and after finally conquering Shanxi in 1941 get the "Lost war against China event."
Germany and Italy sweep through Yugoslavia and Greece shortly after France falls. Britain sweeps through Ethiopia and Libya.
Barbarossa happens and the Germans get stalled roughly at the Dnieper/Daugava river line although they push towards Leningrad but cannot take it.
The Soviet Union concentrates on knocking Finland out of the war and succeeds.
Japan declares war on the US in late October 1941. Pearl Harbor/"Day of Infamy" never fires. US is at war with Japan only and can't get at war with Germany because of neutrality conditions. Japan is at war with all allies. Even though the Netherlands is now part of the allies, Germany is not at war (Japan declared limited) and has a 200 relationship with the Dutch. Japan never invades the Dutch East Indies (or the Philippines) and seems to be satisfied with Hong Kong, Malaya and Singapore (or are they?).
I have 10 fleet carriers at the beginning of the war, nine of which are in the Pacific, all well supported with escorts and proceed to pound the IJN into chinchilla food. By January 1943, Japan has lost two fleet carriers, nine CVLs, a horde of battleships and cruisers and is no longer a significant naval threat. However, they ARE a significant land threat and have decided to concentrate their efforts on India, which they finally conquer completely in December 1942. In the meantime, I've taken first the Marshalls, then the Carolines (the battle for Truk was a bitch) and then the Marianas and have effectively stranded about 25,000 Japanese troops on Guam, which is the only US territory they actually took.
Persia joins the Axis and does nothing and the Soviets seem to be ok with this.
I decide to let the Japanese garrison on Guam rot and invade Indochina. I currently have a line roughly from Hue to Phnom Penh while the Japanese and Thais rush troops east to stop the advance. I don't have enough force to push hard and they don't have enough force to eject me.
Interesting things for the future of this specific game.
1) Since I'm not at war with Germany, what the hell can I do with all these "free" lend-lease mechanized divisions I'm getting? I think I now have about eight of them.
2) Still did what I always do after every patch, mod or addon: fix the damned name files and get rid of the annoying ordinal errors. I really hate having to rename units. I also take out all the names of ships/units that are situation specific. The US named ships after certain WW2 battles, which would be silly if those battles don't actually happen and honored the loss of HMAS Canberra with their own USS Canberra, which is silly if it doesn't ever get sunk in the first place. Also, the "Americal Division" was created from three national guard brigades in New Caledonia that were divisioned together. I just take it out of the naming fields. If I want to name a division because of a certain event or structure, I'll name it. I also fixed it so it properly names the lend-lease divisions. It is really sad to see some of these naming errors still be left from HOI2.
3) I might actually have a working atom bomb by early 1944. Considering that I already have taken Iwo Jima this might be very unfortunate for the home islands.
4) Oh, the "Kamikaze" event fired after I took Iwo Jima. Not like I've really noticed any difference however there really isn't much left of the IJN anyways.
5) I'll probably go after Guam anyways after I've starved them down a bit and get a couple more Marine divisions operational. The surrender of that many troops is going to do wonders for their national morale. Depends on how much of a meat-grinder the Indochina campaign turns into. I took the Marshalls and the Carolines with nothing more two Marine divisions and battleship support. Going after the bulk of their land forces in Southern and Southeast Asia will take a little more than that.
All in all, I really like the mod. I love some of the new addons. I just wish the political situation made it a bit more practical to fully utilize them. Maybe in the next game.