I forgot to mention that the very system of the Victoria series (populations) are vastly superior at simulating history, real life and events, compared to the unrealistic and gamelike Europa Universalis series. I do love EU though, but there is no doubt it is inferior to Victoria's system: Instead of having populations at its core (such as it is in real life), it is built upon a bunch of weird game constructs to try to simulate the real world without using populations. This leads to a lot of weird and poorly simulated game areas, which don't appear in Vicky. Take the (somewhat) horrible concept of development which costs imaginary points. This may be okay to simulate at a given time, but totally removes natural growth, which arguably is several times more important and realistic than a monarch magically using saved up "points" to expand recruitment base, tax base or production.
The only limitation I see with Vicky in that regard is the need to conquer whole states, and not provinces. I hope they fix this however in Victoria 3, to make it freer to play as you like, and have fewer bounds and limits for playing. The possibilities of EU4 (diplomatic, trade, etc.) with the system and setting of Victoria 2 (populations) would undoubtedly be absolutely breath-taking.
I would love EU with populations however... Suddenly all natives dissapear upon colonization in EU, instead of having a minority (or actual majority) with all its consequences in province.
EDIT: Screw it, throw in CK2's dynasticism and you got the best game in history.