What makes me qualified to answer: I’m an experienced player on Triplea, having won something like over 30 games of revised and 1942 2nd edition in the last 6 months without a loss. I’ve played about 2 dozen games of 1942 and have studied the map carefully. I don’t have a map in front of me so I apologize for territory ambiguities/misspelling
1. Is pulling the Indian fleet back into the Mediterranean a viable course to take?
Yes, it’s the optimal path to take in 90+% games. In my opinion, SZ37 is a bad trade unless US is committing everything to pressuring japan. It’s not a positive TUV battle, highly risky, and prevents you from profitably trading your fig and cruiser vs japan dest trans (sz61?)
Most preferable: sink german fleet if it goes adjacent to egypt/trans jordan with 1-2 fig and 1 bomber.
If not: Send cruiser and fig to sink japan’s dest and trans and land the fighter in sinkiang. Move egypt fig, car, and trans off africa towards UK. This joins up with Aus fleet to make Europe landings starting round 4.
2. What should be done with the Australian fleet?
Send to UK, for similar reasons to #1
3. what can I profitably do with my destroyer and transport off of Eastern Canada?
Generally take out the german subs off UK with dest and move trans off US east coast. This is to prevent Germany from deadzoning the SZ off morocco. Those 1-2 subs make the fighter, bomber, and battleship much more threatening to the US atlantic naval fleet. Assuming germany subs attacked EUS, those can be mopped up by the US fleet bought in R1.
4. Would UK/US focusing on Strategic Bombing be enough help to keep Russia in the game vs. Germany?
Yes, but land and trans apply more pressure to Germany at similar cost. I speak from experience rather than an easy way to quantify it. UK and US can start trading france, nortwest eur, italy, southern europe, baltic. Russia can trade belo, ukr, and sometimes karelia. This forces germany to expend 2 land units to counter and quickly exhausts Germany. Overall though, you’re right that SBR is more profitable in this version, and it’s not clearly inferior to trans and land.
5. Would it be sound for the US to just ignore the Atlantic altogether?
I think it’s viable to ignore Germany. If so, you need a strong Russia. It’s absolutely key to deadzone Karelia if you try this. Without a bid, only attack Wrus round 1 and buy exclusively inf and art. Doing this, russia can hold off germany alone for about 5 rounds before ceding the important Wrus or cauc territory (Russia produces 7 land units vs 10-13 germany).