Here's my main concern about using monarch points to buy tech levels, using a historical example.
Britain in the late 18th and early 19th century entered the Industrial Revolution. They developed the steam engine, the cotton mill, and methods of mass-producing iron and steel. They built canals and long-distance paved roads and railways, they mass-produced rifles and cannons, they developed steamships. They introduced income tax and the National Debt. It was a time when technological progress leaped ahead, leaving the rest of the world trailing far behind: and it allowed Britain to become the dominant world power in the 19th century due solely to their advanced industrial and technological progress.
And who was the king of Great Britain while all this innovation was happening? George III. Mad King George, who foamed at the mouth and supposedly mistook a tree for the king of Prussia. A prime candidate for 3-3-3 stats (or the EUIV equivalent) if ever there was one.
So how will EUIV reconcile two such opposing historical truths? A time period when British technological progress was an order of magnitude faster than any other country in the world, but when one of the least capable monarchs in history was on the throne?
IIRC advisers can also give boni on ruler's stats. Johan said they are expensive, but GB in the 18th century was very rich, so it wouldn't be matter for them.