So, I've revoked privilege through some neat trick which has already been hotfixed away and through some sheer dumb luck I managed to get a Valois onto my throne (poor Habsburgs died out) the Trastamaras died out aswell and Castille (With Naples and Aragon in a PU) also got a Valois.
Ofcourse as Mighty Austria I had to rule all of them, but due to some broken treaties they all hate me and every time I die I have to go through like several succession wars and 100 Aggressive Expansion.
So I was thinking, you keep PU's already in place when you become a noble republic. Considering I'm always the Emperor is it actually possible to transform my Austria into a republic and keep my PU's and Emperorship? I think I've used up all my Personal Union luck for this playthrough regardless so I don't need more of the things, I'm confident France and Iberia can colonize and win wars for me.
(Subquestion: If one were to conquer England and release them as a vassal march, would they colonize?)