Well at least the map is correct for Europe in 1901 (the map in the standard game is that of Europe immediately prior to World War I). Britain (thankfully the American habit of referring to Britain as 'England' is avoided this time) gets some additional opportunities by having interests in the Mediterranean at the start, otherwise this is the same game as before. I've long argued that Diplomacy needs to be a smaller game (3-5 players) if it's to retain its appeal in the modern age. This isn't going in that direction.
Silenced - BGG's moderation policies have driven me completely from here
Frankly, I don't see the point of trying to make Dip 'more historical'. The very nature of the game indicates outright war - not the situation in 1900. Even then though, the fluid nature of alliances, and the initial gobbling of minors prior to a the formation of solid ones, precludes the game ever having any historical basis.