Here are the results of my latest script. The file itself is on a link a couple of posts above this one. I will make a couple of minor changes on behalf of the Sabaeans and Pontics but that's it.

Apart from the Pontics, no faction has yet to be eliminated. The two strongest factions are the Ptolies and Carthies who are also at war.

Highlights of the game was the first and last Punic War that begun in 237 B.C and ended with the loss of Sicily to Rome. The Lusotana kicked out the Carthies from Iberia and the Getai kept the powerhouse of Koinon from massive expansion by creating their own empire that even extended to three regions in Asia Minor.
Pahlava has expanded nicely and Baktria is in check. Rome may still be a bit underpowered but it's better than having a Holy Roman Empire comprising of Italy and Germany.
In 226 B.C the Saka broke out of their reservation and proceeded to trash the Pahlava on several occasions. The Pahlava, feeling nomadic pressure in the north, and betrayed by their erstwhile allies the Baktrians, decided to take over some of the Baktrian holdings in Asia. Including Marakanda and Baktra itself.

The lowered population bonuses in the script has kept the size of armies in check. Full sized and strength stacks are rare but do pop up once in a while. Most common being single unit stacks led by captains and some half strength stacks led by family members. So no more AI stack parades with this script.

Expansion is slow and requires some patience from the human player. Blitzing will propably have you master of the world in 30 years, but where is the fun in that? If you want AI stack parades and attrition warfare use the vanilla EB script.

The script is not perfect. It is however the best balance I've managed to achieve. Try it. If you don't like it, try Redmeth's, Sheep's or some other modders variant.

Thanks to Eminos64, Sheep and Redmeth. You did a terrific job with the script. I'll play a real campaign with my script first and try yours later. Thanks for all the help and ideas.

Here is a download link for the final version of the script: http://www.axifile.com?6463893

Have fun playing!