I agree with Mount's suggestions about simplicity. However, I see a problem with the Monarch playing the game for the duration of his reign. That problem is simply that family members live for a bloody long time! It would be entirely possible to play most of the game with only 1 monarch and actively likely that we would only get through 2 or 3. The entire WOTS has lasted only about 120 in-game turns, which equates to 60 years of character aging for M2TW. With a single monarch playing for their entire reign, there won't be much variety at all.
This could be checked if there was an set internal system for overthrowing an unpopular monarch, but even then I think it would result in too much focus on 1 or 2 players. The WOTS elections provided for a great deal of role-playing for the game and I think the game will suffer if we don't allow it.
I think the system we've been working with already for supreme control over the game would be best. Let there be an election for 'Chancellor' or some other titled position which then controls the game. To mimic the power of the monarch, we can give him a veto power over legislation or some other type of perk.
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