I think my only real problem with the RNW is that often it doesn't feel like there's such a coherent narrative to it. I mean, with the "old new world", the various colonial regions have historical significance; Brazil is one of the first places Portugal can reach, and often gets colonised by them. Canada feeds directly to Bordeaux and the North Sea, making it attractive to France and Scotland. The Caribbean has a gloriously high-development, so you can get tariffs up the wazoo and it makes a great place to build manufactories. Mexico and Peru are filled with black gold gold. Eastern-America might seem comparatively less impressive, but it has some high development provinces and it's the only node besides the Caribbean to go directly to the English channel, for England and the Netherlands.
Whereas with the RNW, I usually see about one or two decent provinces per region, usually with a CoT or estuary, and that's about it. The different colonial regions feel a bit samey, and often fit the pattern of "generic northen blob and generic southern blob", as if someone took Brazil and Eastern America and blurred them out.
That, and for some reason all the RNW games I play seem cursed somehow. e.g. my portugal game where, during a crucial war with Morroco, my ally castille's indulgent ruler sent all his 30k troops to take attrition in the New World whilst Morocco and Tunis seiged down Iberia.