It is viable in as much as those that dont rush to expand will run into financial problems once they start.

Personally, I like to hold off expansion once I've got the islands secure until I have armor factories and the swordmakers guild so that what I produce as troops are what will be there to the end of the game. I dont like messing about with trying to upgrade units in the field or disbanding experienced troops because a better type is now needed.

So, for those that do like to hold off until they're building the best that can be built by England, taking the Danelands first and then rebuilding trade, then taking the French coast and holding until trade is rebuilt again, helps alot in avoiding going bankrupt with the more expensive armies.

For those that like to jump out and expand at the beginning...yeah, this wouldnt help them much at all.

I've never been one to play the TW games as a speed drill. Since I've no one to beat but the AI, I like to take my time and then break out with "best of breed" forces and that gets real expensive, real fast.