I guess I would have to agree on portugal. Simply because they have no room for expansion whithout risking war whith neighbours. If hispania would have consist of more provinces then it would have been better.

.. and thats another fact that I can se.. to few provinces.. I se alot of places where I would like more of them. Hopefully the modders of M2TR will add a few more like they did in RTR. But I am sure it will be fun anyway .

I am not sure who comes as 2nd though, France seems to begin whith more provinces than any other faction. However being that large at the start makes them an easy target by many smaller factions situated around them. And to have many hostiles around them could be pretty challenging.