Wow, this thread is getting huge!! EYG, you are the newest org celebrity. It's a blast reading your latest HRE exploits especially with every juicy detail included. In spite of some added stability it sounds like things haven't gotten any less interesting the last few years. A few thoughts:
Definitely take the opportunity to improve some of your farms (especially in safe interior provinces with decent base farming values) as this is your main source of income as the HRE and the investment will really start to pay off. You have enough provinces that the farming income can really start to add up once you get the farms up a ways.
If you can spare the troops I'd agree that shutting the Pope down (but not finishing him off) could help you feel much more secure on your southern border and possibly provide you with some very nice infrastructure in Rome.
Personally I think Flanders is more valuable than the homeland points from Friesland, especially since money has been one of your biggest setbacks and Flanders is one of the richest provinces in the entire game.
I have no good advice for crusades. When I'm fighting to survive I tend to relegate those to a lower priority. For me, crusading only happens when I'm in a secure position with troops and money to spare. So good luck in the levant.
Gothic knights aren't available till late (about 1350 or so IIRC), so you have plenty of time to tech up to them.
Keep an eye on the Byzantines. I don't trust them.
So here's wishing you the best of fortune and hoping for further updates!
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