I still don't have a strong sense of the balance for the current version, other than it seems decent enough, because my strategies keep changing/evolving as I find new things. Here's some of my current thoughts/notes:
the US can with high probability prevent german mexico city from happening, which means the US can start investing in their plan pretty fast. It also means the US gets that IC as an extra; US can put quite a solid force to fight the communists due to supply lines to there, or they could just start blimp spamming. I often wonder if the US should just always go almost pure blimp spam.
Belarus is overpowered. The particular province that is; it exerts a ridiculously strong amount of control over the area, and controlling it is a huge advantage for whoever does so. In particular, it's very hard to walk past it either on the south or north, and it's not just a single width block like that, it's double width (i.e. in order to walk past you have to go through two provincse before you're past it). Controlling the entire north-south width from a single province is strong.
There are some other provinces which are also very very strong, but it's less apparent because they're less often on the contested zone. Generally things to look for in measuring that are number of adjacent provinces, and how circuitous it is to walk around.
I haven't found gas to be a problem; but it could be because I haven't had enough games that run really long. The thing about gas is that it has multiple techs that improve it, so there's a mighty big difference between what it can do at the start, and what it can do once you've got those techs. There certainly do tend to be multinational issues on this map (i.e. where multinational forces defend far strong than they can attack), and gas is something that can mitigate that effect, but it also allows for very rapid theater shifting.
I've found neutral farming to be pretty weak; in my experience there's only a small number of places worth farming, and even then it's often sketchy. When areas are tightly contested (as a result of good balance), every troop matters, and having troops go off to a side to grab the income can mean a real difference in those areas, enough of one to enable making an area tradeable where it otherwise wouldn't be, which can be as big an income shift as the farming would be.