Here's my full breakdown on the reworks for Major Powers. I'm gonna start with my opinion on the two new ones.
Germany. I think the rework to the economic side has been a long time coming. It is, by far, the weakest part of the original tree, and really just needed to go. It was so short, got little done, and worst of all, put the extra research slot after rockets, which means you'd have the 50% rocket tech discount way, way ahead of time, since you really, really want more research slots. But what really matters is the new tree. And boy, is it a pretty good one. It may be a bit more plausible that we'd see the monarchy restored in Germany than anywhere else. To the Prussians (Prussia made up most of Germany prior to the unification), they'd only ever known the power of a Monarchy, and the Wiemar Republic failed miserably. Not to mention the lust for revenge, and nothing would be a sweeter revenge than bringing back Wilhelm II. Of course, in Hearts of Iron, the people don't matter, it's the people in charge who do matter, and it's pretty likely that the Wehrmacht officers who didn't like Hitler, or approve of his "Night of Long Knives" would plot against him. It's hard to say for sure if it was really possible, since it didn't happen, but it's a nice thought. The democratic path also makes a little sense. It's pretty likely that if they could organize a coup against Hitler, the old guard of Germany would also recognize the necessity of keeping the Allies off their backs, so very openly supporting the Kaiserreich would only antagonize France and Britain, maybe even worse than Hitler would. I also like the ability to create a power-block against the Allies and Comintern, and I think keeping Operation Tannenbaum strictly to the "Accept British Naval Dominance" and Kaiserreich paths might be a bit much, though... Still, nice to have an "Invade Sweden" option somewhere, at least.
Japan. Everybody knows Japan needed this change. I never even touched Japan because you can SEE how terrible the tree is with your eyes. The only major choices you get in the original tree is "Puppet China" vs "Attack China" and "Attack Colonies and USA" vs "Attack USSR." It just sucked. The new one actually looks to be one of the best, most well thought out focus trees... balance-wise. I'm not knowledgeable enough about 1930's Japan to know anything other than they wanted an empire of their own, like all the cool western boys. The choice between USSR and China may seem arbitrary, but for the scope of the game, there's really only time for attacking one enormous, hard to fight in land that has proven resistant to invasion in the past. Overall good job.
I can see these two quickly jumping in popularity with these new trees. Well, Germany is already popular, but it might surpass 50% pick rate with just 1.5 new options to play with.
Now, on to the nations that haven't seen the loving hand of a touch up yet...
USA. Good lord, the USA tree is unbearably slow. Barely even enough focuses to unlock continuous focuses to build stuff until WT hits that peak, and the war goal focuses really just seem like catch-alls for when Germany wins in 1939 and there are no allies left to speak of but the Comintern, which will probably also be losing. And the alternate war goal focuses are just.. what? Why is there one for the UK? The UK doesn't even get options to BE aggressive unless fascism is on the rise on certain countries, and the USA would probably not attack the UK for that mess. More "European Problems" are not a reason to go to war, cry the American people, lowering war support immensely.
It's better than Japan, but... not by much. I can't really propose a rework for this one. America has always proven immovable from its democracy, but that doesn't mean that if the government you control came out in overwhelming support of the fascist and socialist ideologies that helped rebuild Europe after her worst war, the people would outright reject it. They would adapt it and mould it into their form of democracy. FDR's New Deal was pretty socialist, but it wasn't a communist revolution, it was a few safeguards to keep capitalism safe from another crisis. I couldn't see an American Hitler, but I could see an American Mosley coming into power at this time. Someone very much nationalist and somewhat reactionary who sought to go back to the "good old days." There might also be someone who doesn't see the New Deal as going far enough, and favor a more socialist/communist form, but I just don't see it happening.
United Kingdom. The UK tree is pretty good at the moment, but nowhere near as good as Germany's base tree, so it needs some real changes. I haven't played much as the UK, so I'll just speak on potential alternate history. Mosely is the obvious option for a Fascist UK, as his ideas of a return to the Victorian Era and a new UK as the world's strongest superpower likely appealed to some people in the dying empire. communism might be a harder sell, but you never know.
France. The French tree is the only base tree that lets you explore alternate history, but the furthest it goes is "turn fascist" "turn communist" or "fix the gov, idiot", never anything past that because it's assumed you'll have fallen anyway by the time you get that far. The economic and army trees are also a little short, stopping at "fix this shit"
And you extend the Maginot in the stupidest way, erecting forts all along the Belgian border when it would make more sense to finance the actual extension that was supposed to go into Belgium...
USSR. Another one I've never played, mostly because I find the size intimidating and it just seems... boring. The focus tree looks boring, especially the purge. Do it or coup, but... was a coup even going to happen? Or was Stalin's infamous paranoia really getting the better of him? Still, some alternate history and some other, lesser known fellas in the USSR might be nice to see. Certainly not Trostky, though. He was long gone by 1936 and wouldn't make a return just because some whites decided to revolt.
Italy. This one is pretty ok, but, lordy lord, would I love to see some changes. This is one I really don't know anything about, I'd just like a different Italy tree to play with, one more focused on taking what you can from the Reich before they inevitably turn on you. After all, Hitler was pretty vocal about not liking Italians, or other "meds" all that much, so an eventual war between the two seems pretty likely. And the overthrowing of Mussolini. If Italy gets invaded for real, Mussolini should get overthrown well before capitulation. Especially if they lost their African holdings.
As for some neat minors... the rest of the Balkans need some love. Greece, Turkey, and Bulgaria really need some of that there attention... and if there are formable nations, you can be sure that Byzantium and the Ottomans will be in there. Denmark, Sweden, Norway, and Finland would make another nice group. Spain needs an expansion all to itself like China got, but that might be a little greedy for what will amount to 2 focus trees. Could group it in with Italy, Greece, Turkey, and a free Egypt for a Mediterranean expansion, though. Brazil and Mexico might merit some love. Argentina as a long stretch, but I don't see any other American minors wanting much. Gran Columbia might make a good nation to form, though.
Well, that's what I'd like to see. Sorry for the long post, but I figured why not.