I just had great success against Russia with Germany (and this is after losing 5-6 games in a row with them).
All of my G1-4 builds were nothing but Mechs and the occasional Sub (only if i was going to risk my baltic sub in an attack, and then only to keep britain from getting their 5 point bonus)
G1 Eastern Poland with everything that can reach it, France with all ground in the west and most of the airforce (save a mech in Belgium to defend), sub attacks on the two UK transports, attack Yugo with inf and art from Southern Germany, but retreat to Romania after one round.
G2 Western Ukraine with everything that can reach it, all tanks and mech should be moving towards the eastern front if they can’t attack. Bessarabia with the romanian guys.
G3 Keep your big stack in Western Ukraine, the Bessarabia guys should take Ukraine
G4 Everything into Bryansk (sp?)
G5 Moscow
Even if the Russian player is building nothing but infantry, Moscow won’t have enough to withstand this full force. At G3 you can evaluate your options – I took Leningrad (not in my original plan) G3 after the Russian player made a mistake and left it practically undefended. An I2 tank/mech can opener attack into the Baltic States opened up a path for my troops. Once you are in Brynsk, you have the option of striking at either of the three cities, especially if you have some italians around to take down Russian 1 infantry screeners, so if the dice gods shit on you, all is definitely not lost.
Aftermath:
I took Moscow G5. G6 Stalingrad. UK took Norway and built a major there – they’ll get the first use of it UK8. Fortress Europe is protected by large inf stacks and aa on the cost, more inf and art in France and Western Germany, and mobile response units (Tanks + mech) in strategic locations throughout the continent. It’s about to be G8, and I stand to take Leningrad this turn, India G9 with a good portion of the stack that took Moscow.
Downsides:
-In order to save as much of my tanks and mechs, I used almost all of my airforce to take france. This means that my sub were only able to take out the UK transports – I know some people would go for the destroyer-less battleship/cruisers, but my main objective was to slow the UK, not fight them.
-Italy really needs to be involved in Russia, which means spending most of its money on tank/mechs. I fought back and forth in Africa, but eventually I was defeated by a UK minor in Iran (though my German tanks will be taking it next turn :) ).
-Japan needs to threaten the US. This is just a 2 player game, so I was in complete control, but it might be harder with a couple Axis players. I did a J3 attack and fought some major naval battles against the US. As soon as the US started evacuating the Pacific fleets to fight in Europe, I landed in Alaska and bought a couple transports, so it would look like I was committed to a North American front. It worked like a charm. The US fleet turned right back around, and the US started building defensively, buying me a few more turns in Europe. But these moves have left Japan in a pretty weak spot. They only hold half the DEI, the Phillipines and a major in Shanghai. If not for the inevitable fall of India at the hands of the Germans, Japan would be screwed.