Crusades/Jihads are definitely an M2TW mechanic that should be taken advantage of.

Early on you dont get spearmen of 7A/14D for around 200 florins. Pilgrims and Rel. Fanatics are great garrisons if not arrow fodder.
Movement bonuses, esp. on ship (click boat on campaign map, click fleet tab, and highlight all ship icons, NOW you have unlimited (i think) movement. Crusading army in Iberia reached thecoastal shores of the Holy Lands in 1 turn). Plus, if your relation w/ the Pope is great you can target a city of your liking

(Granade, Tunis, or Vilnius, it's just too bad you cant target Novgorod or Constantinople, hope they fix that).
I tend to avoid excommunication if possible,

even if it can be manageable, too bad the HRE (1 of my fav. factions) has to take Rome. i've yet to try buying it from them, after giving them at least 3 more provinces and hope they change capital.

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