This is some interesting discussion.  I have only had a chance to play a couple of games, but I still feel that loosing RUS early is a bad idea.  Unless you have already suppressed japan to it’s traditional home islands.  Which is a total US commitment and leaves the UK and RUS to take on Germany.  Italy has soo many cool ideas that it’s an unpredictable.

Title:  Japan vs. the World 1941
Date:  12-16-08
Special Rules:  National objecties and tech 
Victor:  Axis victory, by victory cities 16 were taken.
Game Length:  The game lasted 8 rounds, and took 4-5 hrs.
Bias:  I was playing the axis and have played the game longer, however my foe is of equal skill and cunning.
Description:  Japan took a India turn 3 and then Aus turn 4 to hold the pacific.  The US player split his forces between europe and pacific.  Germany pursued moscow and karelia with Italian support in the south.  Italy gave up on africa after US and UK destroyed it’s navy in turn 2.  UK with US support bombed germany in an all out SBR strategy. 
Observations/Recommendations:  SBR is a good tool, but shouldn’t be the focus of US and UK.  I have played the game 4 times and japan is over powered.  Each time japan took what it wanted when it wanted.  Although I have yet to play the US.  So I look foward to my next game in which the Empire of the sun is going to set forever under the heel of my boot. 
Link:  (Optional) Link your own thread discussing the game in greater detail.