I will have to play with this a bit, but it worries me for (more than) a few reasons:
Cons:
1: US can, with little effort, slowly pick up south America. 6 extra IPCs per turn is nothing to scoff at, especially since they start with three mechanized infantry already there to do all of the work for them. (ANZAC can also come over and grab south America for that matter, though it’s arguably more wise for America to do so since it can then transport the free troops elsewhere more easily and more quickly.)
2: Mozambique/Angola/Saudi Arabia for Britain means more units marching north to Egypt, not to mention more income. 4-6 IPCs/turn there, I forget what the African territories are worth. You may also not threat much of a sealion depending on your implementation, which could lead to early UK mICs in the middle east.
3: Afghanistan becomes something Russia or Britain can grab for a bit of extra meat in western china or even to take the long walk to somewhere more useful.
4: Sweden can be taken with your Norwegians/Fins and planes on Turn 2+ without issue, but any losses up there are kind of a small pain to replace.
5: Any units you send into Spain are necessarily not going to be headed east any time remotely soon. Once you do take Spain, you have given the allies a place to land that is not within easy reach of your major factories. You may also have given the allies some free units in Portugal when they do land, or you’ve spent a turn with some of your planes smearing Portual instead of somewhere else, like setting up to take Egypt.
Pros:
1: That being said, you do, ideally at least, keep Gibraltar for a long, long time, allowing Italy some leeway to work with the new avenue turkey provides. If you build an airbase (or two if you get crazy) on Spain or Gib, kicking you off the mouth of the med would be next to impossible any time soon.
2: I could even see a mIC in Turkey for Italy, depending. The loss of Italy’s navy is not anywhere near as detrimental, as the stranglehold on Gibraltar keeps them relatively safe, and they can drive, albeit with quite a bit of effort, through the Balkans to the middle east.
3: It’s something new to try, and would lead to a game with a strong Africa/Mediterranean/middle east brawl. I don’t know if Italy has the strength to pull off taking Egypt, though.
If America, as it does in 90%+ of games, goes nearly all-in on Japan, Germany is potentially okay with this strategy. If it doesn’t, say it takes the gamble and heads straight to Europe, hoping to hold out against a monster Japan later, I’d say this strategy might screw you.
Actually, I think this strategy would work better with an early Japan DoW than it would slowgame from Japan. Even if you do the slowgame, taking a few territories above Amur from Russia if they’re headed west does still hurt them in the long run and doesn’t affect the other map.