What I think the game could really use is another layer of play. There is the ruler level, and there's nominally a heirarchy, but it's really only 1 player to 1 town. Or more like 1 player to 12 towns minimum. Along with the distances and times to travel, this doesn't engender frequent interaction, and the game even at 100% full feels kinda empty.
One of Tom's ways of thinking is similar to the way of thinking of that guy who made Crown of Conquest. Both games effectively allow one player to have unlimited holdings, on the basis of "not imposing arbitrary limits". Well, maybe for a game like this it *should* impose far stricter limits on the number of towns that a single lord can hold. Or: there should be more roles so you don't end up with situations like that Harald Dubhaine in Lowlands. When he quit playing, it turned out he had over 100 towns all siphoning into a single mega-town. His success thus crowded out possible space for about a dozen other players. If there were actually meaningful roles and delegation, then Harald could have delegated out managing of his many towns to various other players, so keeping the "no limits" thing, but not actually crowding out other play. A similar thing has happened with Ascalon, as Rothrik quit recently too, and vast chunks of the map became fallow, clearly indicating that almost all of those (not counting Steelhold) were in fact held by the Rothrik player.
Really, what I think would work better is if a single lord can really only directly rule one town, or a handful, but you have subject towns, ruled by other players, and you can impose taxation on those. Then, have a "merchant's game" too, so have an economic class of players that's separate from the military/overlord class of players. If you raise taxes too high, then the merchant players might go elsewhere, and you can build your centralized armies through trade and resource collection. The merchant players may care more or less who the actual "Lord" is, much like real life.
I think a game like this one, but with many more "roles" could in fact fit a *lot* more players in, with stuff to do, and that would actually make playing from one town as a lord turn into an interesting game, since you'd have traders coming and going, and so on.