Note: Rakes are really only good at assination, and even then it is rather iffy. They can spy but this fact is rarely needed. Whether you spawn more rakes or gentlemen depends on what you build. If you turn towns into pleasure centers you get rakes. If you make them schools you get gentlemen. (but schools later on lead to rebellion).


Pros:
Love the campaign map
Battles can be fun.
Trade is so much more in depth, I love it.
Actual navies.
Traits that matter (not 23 traits as soon as they become general)
War of Sucession (I almost leapt out of my chair when I saw it in action)
Rebellion (amusing)

Cons:
Not enough hours in my day to play the game do to sleep.
Garrisoning seems to be a little to powerful, i'm not sure if this is just me but when I garrison the AI dosn't seem to know quite what to do. Sometimes they charge in but if they fail the first charge they just meander outside and get shot.
To big of navies for the finances, I noticed England , France and Sweden had some ridiclously gigantic navies in my game, and I was the wealthiest so no idea how they afford them.
To much pirating on trade routes? (This is only annoying do to fact if another faction is pirating your lane you can't attack them without declaring war.)