Well, even in real life, Brazil dominates South America, so...
Joking, Im up to split it.
Errrr, lets talk about the map. This is one simple (and non artistical) suggestion about the minor continents:
Canada and USA in same continent would be strange, since they are very important and large countries. I would like each one in one own continent, but it seems difficult. So, maybe the place for an Asia of the real classic map
About Europe, I first thought about 3 divisions, but this one looks like better. I think we can remove Italy - Tunisia route. Also, the Eastern part has many borders, but Western would look strange without Austria. Maybe rename Austria to Hungary could be better. We also can think about change Russia to a whole Russia continent.
Africa: the main problem is the red region, a bit crowded. removing some countries there (like Cote Divoire, lol, Tunisia and Senegal) will correct the problem. Also, maybe we can remove Lybia - Sudan border.
Asia: by the way, Middle East will need remain as a little continent. What we can do is merge China and India continents, or China and Pakistan (even better), but I dont know if its a good idea. Maybe we can also split China. I think we can easily remove Malaysia, Taiwan and Nepal (unless we merge China and India). Before think again about Asia, we need see how will Russia be splitted. Hmmm, arent Indonesia and Philippines part of Asia in real life? Will these count really to Oceania in the map?
South America and Oceania are easier, we can do almost all. I believe South America fits well divided in 2, we can call one Amazon (or Amazonia) and the another one Mercosur.
Hey, can you please post a map without circles and bonuses next time? Its better for me to suggest something...