Thanks for all the helpful advice guys. I decided on a whim to play Sicily and its been a little rocky cause I'm been pretty much using the same strategy that I use with strong infantry, mediocre cavalry nation whichs obviously does not favor the Sicilian's particular strengths and weaknesses. I've also mostly played nations of the Western and Central European mainland so I've not the experience of having pockets of cities and castles scattered across different islands.

I was going nearly bankrupt and had thin scattered forces in my lands cause I was using the "more land=more money" strategy of fighting bitterly to take over and hold provinces. Next time I play I'm going to try and consolidate and fight on less fronts - first by getting rid of Durazzo as many have suggested and even Bologna to the Pope so I can concentrate on building trade, controlling the seas and taking over North Africa then the Middle East.

Damn, I love this game... so many interesting facets to it that you don't even realize.