England in GC is a pain. IMO you always have to annex France very soon, before the end of the hundred years war fires. Else you will loose French culture. Which is, very bad. An Anglo-French Empire, will dominate the game, no matter how hard the AI is. It does, however, grant you tons of enemies with your huge BB. In earlier patches, i kept getting embroiled with Austria/Burgundy/Spain and a crapload of minors dowing me all the time. BB was higher then 80, and i kept having political crisis. Hopefully with all these DoWs, i had 0 stab.
If you want peace and love, better go as Portugal. Colonizating bastards they are. But, it just has Spain/Castile as neigbour. It is hard at the start, since Portugal just has 90 census taxes, but funny anyway.
Whenever i play vanilla GC, as Austria, i never have problems with war. Few people do dow Austria actually. Besides, you can vassalize half the world via diplomacy. Always do that. Bavaria and Mantua always go first. And then you inherit Bohemia and Hungary via event, making you ever stronger. The French AI sometimes is silly to Austria, but iirc, rarely. However, you may get yourself at war with some german/italian minor, or even with Poland, due to your great vassals/allies.
P.S. want to create Italy in vanila? well, take my tip: go as Venice. You can always take Greece and all Slavonic provinces after you unify Italy, because they share your culture. However, the OE and Austrians may prove a pain.
