@Arjos: Eastern spain, Belgium and Croatia are the most popular regions for speculation however. Which really does bond well with the map if you ask me. These Specualtions however are based on the assumtion, that all faction slots will be filled which is not quite likely afterall.

Also, weren't they only going to release 7 factions for the first release?
Interesting, could you link me to the orgin of this information. I've heard a lot of hints that suggest there will be at least one free faction slot but I have yet to see a statement like that black on white.