Discussion on what realms we suspect won't be viable with conversion even as middle weight powers.
1. Persia
Because Persia will ostensibly be sandwitched between the enlarged Timmurids on one side and in most likely hood King of Men's Byzantium in the other and Russia to the north I cannot help but feel distinctly that Persia will be suffering from some very acute income and manpower issues that when considering the size and potential of Mughals and Russia will probably make Persia a fairly good candidate for rumpage unless he can quickly as of now expand to the Med, get some concessions in the Caucasus or gambling... Try to make a stab at the Timmurids and taking away the rest of Persia and secure a path to India, its possible as assuming Falador/Nickomite takes control and Jodukus somewhere in China right next to him there is ample oppurtunity for cooperative assault, also Russia will want to secure its Siberian path and what better way then to ally up with persia to assault the Mughals before they consolidate their northern frontier??
2. Egypt
Almost as bad position as Persia, Africa is not only less income and manpower but he has an easily undefendable north vis a vis Byzantium or any of the Mare Nostrum powers of whoever is in italy, southern france or Spain all of whom may want to grab Alexandria at some point. Where the situation improves significantly is that Africa is huge of colonizable land to allow some sandbox expansion but this is where if you go far enough it comes full circle as ostensibly some African states will be buffed to allow human players there rather then one or two blobs in Africa further strangling Egypt in its noose.
Not much Egypt can do other then to compete vigourously for the Holy Land to gain a better buffer and to expand quickly to the atlantic is possible to ensure he doesn't shareafrica with Spain.
3. Byzantium
In comparison Byzantium comes off very well here, nice routes of expansion into the middle east, possible the south of Ukraine and of course the Balkans are all availiable and through lack of suitable players even Italy, in theory Byzantium is going to be in a fairly good position if King of Men can inherit Byzantium asap, where this doesn't look so rosy is regardless of how it look now eventually he will run out of easy room to expand, Russia will be a considerable power (assuming current trends continue) in EU3 locking that route as impossible, even if he gets Italy that would be the rational maximum extant of mediteranium gains as Spain and the France player woould absolutely refuse to broke further expansion westwards, while its easy to imagine him gaining the Balkans expanding into Austria or Silesia will meet swift German and Polish resistance possibly with Russian assistance is VR plays his cards right.
And ultimately Byzantium is "colony locked" it will be inconceivable for Byzantium to be able to gain colonies but on the plus size, considering Ecylon's prowess last EU3 with a fairly small Byzantium I believe Byzantium this time can do fairly well albeit within certain constraints.
4. Poland; much worse compared to Byz, while it is possibly plausible for Poland to gain colonies with considerable effort this is only possible if it devotes itself to it and orients itself to a policy of being the "Good Polish Neighbour" to Russia and Germany preferring to stay within its own secured modern polish borders rather then to try to expand into a Great Poland, otherwise such an effort in EU3 would make any form of colonization impossible, Poland can have colonies or it can have an enlarged european presence not both at least in the early game.
5. Denmark; While it can quite naturally become the dominant Scandinavian power and is in a far better position then Poland to colonize the new world it will never have the material manpower or economic base to challenge and enlarged EU3 Russia, a consolidated Germany or Poland land, sea or anywhere, its only path I believe is to colonize and to stay out of European squabbles.
6. Toulouse and Flanders; As long as they cooperate and split France between them into a "France/Neatherlands" arrangement they should be able to do well in both European combat and extraeuropean colonial grabs.
But regardless things dont look good for Egypt and Persia.