The main feature of MTW2 I found annoying was that right about the time you discover the new world, the game is basically over. There's only a few powers left usually who can take it, and you are usually the only one who makes a go for it.

As several of the colonial powers are already set up at this point (Muhgals, India, England, France, Spain)....I assume it won't be as big a issue to get from europe to new world and back.