Piranha,
I think it would be going a bit too far. If every city's production was decided by the player capturing it, I suspect we would end up with less varied armies. Cities would also be less varied (only differentiated by income level). I think this would leech a fair bit of color out of the game.
Lphillips,
I agree with most of your points, but....
b) I actually find that I fight a fair number of pikemen, so some people must like them.
d) If light cav are reduced to 225, they need to have their open bonus reduced to +1.
e) I don't think move bonuses are the way to limit the power of one turn units (since that would only encourage players to have one scout or level 2 unit in a stack). Instead, the more versatile/powerful 1 turn units should be slightly nerfed in terms of strength or terrain bonuses.
Consider the light inf to be the base lvl 1 unit. Right now it is nearly useless because slightly more expensive units are far stronger or faster. The heavy inf is not only a point stronger, but it also gets an open bonus. The light cav is not only much faster than the light inf, it also gets an open bonus of +2. Remove the open bonus from the heavy inf and reduce the open bonus of the light cav by one, and we get more of a curve, and less of a sudden jump in power.
This would also help increase the gap in power between the 1 turn and 2 turn units...which really should be a little wider.
Responding to Lphillip's comment that the proposed changes would make the lvl 1 units too similar, I disagree. I admit that some would be a little less extreme, but overall they would be better balanced and still significantly different.
And Zorro,
I would also like to see some hp variations some day....but 4 wounds for a heavy inf?
Really? That just seems wacky to me.