A very good effort.
My suggestions for improvement are:
Agree with others about the width of the Atlantic. There should not be just one SZ between England and West Germany; the line west of Denmark should be straightened to run into Low Countries.
IPC values: Finland and Norway each worth more than Belgium/Netherlands combined? Low countries needs to be 3-4, Norway and Finland really not worth more than 1 each. Kazakh = desert = 0. Caucasus oil is mainly in the south, i.e. the “Georgia” territory (Baku).
Naval bases: add Sevastopol, Oran (Algeria) for Tunis, Wilhelmshavn (WG), Alexandria (Suez) should be on Med, not Red.
Urals factory maybe better in middle ? area (Chelyabinsk), giving Japan a realistic target in USSR?
I’d also put a factory in East Ukraine (Kharkov?)
“South West Africa” should be French Equatorial Africa; “French Equatorial Africa” should be British West Africa.
Belgian Congo should be impassable, certainly for armoured units.
Brazil, Mexico and Panama neutral; Cuba can be US control, but I’d have the eastern part as British West Indies.
Roundels: (you knew this was coming) Italy should be Fasces symbol, Ireland at this time had only orange and green sections, Yugoslavia had a cross design similar to the one currently used by Serbia
http://en.wikipedia.org/wiki/Aircraft_roundels
(note the inverted orange triangle of the Dutch East Indies air force)
“Vichy” should be Southern France; at this time Vichy was an insignificant little town.
Someone mentioned Calais, of course on this map Calais is in “Low Countries”.
I would make Iran 2 territories north/south, each with at least 2 IPCs (oil output).
You haven’t marked the convoys; shouldn’t there be 2 French convoys in the west Mediterranean?
Won’t all neutrals have IPC values? If they can be invaded, they should be worth their equivalent economic value.