1) Remove America, Canada, their neighboring sea zones, and America's Convoys, as well as all troops in these regions.
2) Put Russia and UK in ownership of the "Oil Countries" as shown in the picture and have each collect IPCs, if Germany takes these countries play it as if they took any other country. Therefore, ignore all of the rules about the "Oil Countries" from the rule book. Also UK and Russia each start the game with 4 extra IPCs because of ownership of the "Oil Countries."
3) UK begins the game, Germany goes second, Russia goes third.
The theory is that this alteration maintains the idea of A&AE, as well as historical correctness, while it evens out the sides because Germany can no longer wipe out the British Navy on it's first turn. This should even out the game whether you have had a hard time winning with the Allies or you have had a hard time winning with Germany. More testing will ensue and I will add results of my theory as they progress.
I've decided that the Allies need a little more help to make the game 50:50
4) Return the American Convoys to the game, at the start of each round, excluding the first, if Germany is not in control of the convoys give the IPC value of each convoy to the Allies to divide between them, just like the 12 IPCs given to each side at the beginning of the game, this represents American involvement in the war.
1) The "Oil Countries" are combined as a "Union of Oil Countries" (UOC) and are under the control of one player. This player begins the game with 8 IPCs, and all of the units that are supposed to be UK or Russian in these territories are instead troops of UOC (use the green United States pieces). The UK transport and destroyer are also replace with UOC forces.
2) UOC does not have a 'Capital' that Germany can take over to win the game, but it does have an Industrial Complex in Iraq, therefore it can produce land and air units, however it cannot produce sea units, the only sea units it has will be the two that replace the British units at the start of the game.
3) The UOC player takes his turn at the same time as the UK, therefore they both produce at the same time, take their combat moves at the same time, etc.
4) If Germany takes over UOC territories it collects the IPCs normally, from the bank, not from the allies.
5) All other aspects of the game that apply to other countries apply to UOC.
REMINDER: Germany CANNOT win the game by taking over Iraq.