The game isn't dead, and it's time for a status report.
Overall Situation:
I feel reasonably secure. Japan owns the entire Philippines, Guam and Wake, most of Borneo, a few other DEI bases, as well as a few outposts in northwestern New Guinea. Whilst the Chinese hordes have overrun Manchuria, they're now sitting still on the Korean border, being watched warily by large elements of the Imperial Army.
The Land War:
I'm quite happy with the performance of my troops. Everywhere I've landed them, they've eventually prevailed (aside from the unfortunate Canton incident). The Chinese situation is the only fly in the ointment, but we shall see what happens there.
The Naval War:
This has been a more mixed affair. Whilst the Imperial Navy has been able to carry my troops to all their objectives, I'm not completely satisfied with their performance against major enemy fleet elements, and given the large number of ships in the dockyards, I'm at a serious disadvantage. Whilst the number of large vessels sunk is nearly equal, the mixture of points values is far more skewed in Bill's favour, and he gets a lot more ships as reinforcements.
Ships Lost:
Japan: 11 BB, 1 BC, 1 CA, 8 CL (of which 4 were Commerce Raiders), 42 DD, 6 AP, 2 AK, 4 TK, 8 SS, 1 AD, 1 MSW.
Allies: 10 BB, 1 BC, 9 CL, 64 DD/TB, 3 AP, 11 AK, 2 AO, 6 SS, 14 PG, 1 AR, 4 SC, 3 MSW, 1 AE.

We are all dreams of the Giant Space Butterfly.