What's your opinion, are naval wars more fun now?
I've started a game with lots of islands, as I like being left alone in the early eras, and then wage big wars across the seas.
My first and only war so far was against the Americans. My fleet was composed of two frigates and an armada of privateers, out of necessity. Had I had more iron available, I would have probably preferred a fleet with frigates.
Washington had a fleet similarly organized. After I opened the hostilities, I won a few of his privateers, which then switched sides and allowed me to win even more battles. I think I had captured the entire American navy after three turns.
I noticed that when a privateer captures a unit, the unit gets 50% health. Maybe that should be removed, and the captured unit should keep their health if it's lower, or always get a very bad health. This would delay the tipping effect that capturing privateers can have on the war, as they would be forced to navigate back to friendly waters before becoming usable.