Balance mods are all well and good.
However, you have to realize that the developers have had the benefit of thousands of hours of Quality Assurance testing and development itself in which to help balance and refine the gameplay experience.
If you think that it will be easy to do better than they have, given that, without the game being out for "quite" a long time and devoting thousands of hours to it yourself, you might have a lot more frustration than you have bargained for.
At the end of the day, also, what counts as "balanced" is fairly subjective in this kind of game. Balance should be between what a single nation can do in certain circumstances, but every single nation in this game is unevenly matched against its enemies in one way or another, and every decision you make can make you exceedingly unbalanced in the long run. Whether that lack of balance is in somehow joining the USSR faction as something like communist France and then being able to conquer most of Europe with the help of the USSR, or deciding as Japan that you will fight an early war with America and China at the same time and putting yourself needlessly in harms way.
I want to make interesting decisions, and have strategic choices that matter. But pure balance will never exist in this kind of a game, as there is no possible way to make any possible war "fair" in the game. Even in multiplayer with actual humans facing one-another, one side will "always" have a starting advantage over the other, and while this can be minimized through proper nation selection and perhaps specific rules you set for what you are allowed to do as nations, it will still exist.
But that's fine. I'm alright with the concept of being at a disadvantage, because you still can make meaningful strategic decisions while at one - and the victory is all the sweeter if things were stacked against you. I'm also alright with occasionally being at an advantage.
