I tend to try to expand to a fairly reasonable size, no huge empires. But I try to break up the major powers. I love forcing nations to release sovereign states, and if I can directly benefit by vassalizing the remains all the better.
For example I just finished an ironman Brandenburg to Prussia game. Maybe I had 50-60 provinces, but I had Sweden, Norway, Finland and Commonwealth as vassals, and France, Saxony and Kiev as allies. And emerging or re-emerging from the ashes were many states such as Finland, Transylvania, Kiev, Sibr, Byzantium, Crimea, Kazak, Perm and on and on. So while Prussia dominated the southern Baltic region, a look at the diplomacy map showed we had a wall of vassals and allies that stretched from the arctic to the Black Sea.
So I try to play a mixed expansion and diplomacy game with the goal of creating as many nations as I can, while having a moderately strong nation augmented by a far reaching web of alliances and vassals. I find the game more interesting the more nations there are, especially if I caused them to exist. The released in Peace deal modifier is a good one.
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