Graphix:
1) I like the water texture, but it seems a bit overdone.... enough that it hurts my eyes if i stare at the picture for more than 5 minutes

maybe tone it down a bit if thats possible?
2) The island reefs dont really seem like reefs, more like polluted water.....
3) The large image looks stretched for some reason, idk why...
4) The text in the large version legend is blurry
5) I dont really care for the white borders, the seem out of place. Also, they are very rugged and pixely, maybe try smoothing them out, and setting the opacity to 70%? that way they would be a sort of lighter color than the continent they are on (maybe not do this for the grey continent....)
6) The drop shadow on the borders seems out of place
7) So does the speed boat....

For the bevel on the islands (or is it emboss? idk i was never good at telling the difference) the white highlight part where the sun is hitting the islands is out of place. Maybe make the highlight color a brighter-more-whitish-color of the island its on? that might fit in better
9) The islands need a texture of some sort, right now its all smooth
10) The scroll is a little blurry in the large version
11) Just wondering, but why is there a blue outer glow to each island?
12) I cant read the name of the brown-almost-orange-island-right-under-lyonesse-and-kamuri-kandam
13) I dont care for the compass in the lower right corner, or for how it shows every direction. Why not enlarge it slightly and remove the names for all directions but N, S, E, and W?
14) Upon close observation, the very outside of the picture has a little grey line, as if the ocean layer just stops there. Maybe shrink the canvas size so that the line is no longer there?
Gameplay:
1) (could be considered graphix, idk) The circles seem out of place on this map, except on the boats. Maybe get rid of them except where needed?
2) Thule has 9 territories, but only 8 named
3) Can 1, 2, 3, and 4 (inner grey circle) all attack each other? since they all share the very center of it its hard to tell
4) There are alot of.. oh shoot cant remember the word... bottle-necks? i think thats what it is... on the map, especially on earlier-mentioned-brown-almost-orange-continent-that-i-cant-read-the-name-of
5) Some of the bonuses seem a bit off for what they should be. Idk why, but they do
6) Is there anything that can be taken to win the game? kinda like in AoR: Magic? (just wondering)
7) Just wondering, but that exactly is the reason for the boats????

Why would anyone bother to take Lyonesse 2 when they can skip over it to 3 or 1?
9) Can lyonesse 2 attack lyonesse 4? its hard to tell
10) 'Docks connet inner and outer
rings on the same line of sight' - that makes now sense. How about inner and outer
islands???[/i}
11) 'Ports can assault explorer boats' 'Explorer boats can assault ports' - When you say assault, do you mean like [i]attack assault or
bombard assault?
12) Theres a name for every island EXCPEPT the grey one. That might make the number thing tricky their....
hehe, got alot of commenting out of me

edit: could you put what page number the newest updates are in the title? it makes it easier (like Atlantis V4.0 Pg 1 and 3)