Location 1: "The Iron City"- The main bonus of this location is clearly that we get Iron and another source of Spices to trade away for gold or to supplement any future happiness issues. Also, after cultural expansion we will have Game and Cattle to support growth of the new city. The nearest city would be Washington at four hexes in between the cities.
NOTE: If it were to be built 1 Hex NW of its current propsed location, we could fit in Location 4 as a later city. However, I think that the excellent terrain immediately surrounding its present location is ideal for a third city.
Location 2: "Filling in a Gap"- Here, the bonuses are the Stone, Fish, and Marble (yet another lux for us to use). It also has the potential for a springboard of a small naval campaign against the Japanese, or to launch missions to find other civilizations. Using this location for building a navy, as opposed to New York, lets New York focus on the other aspects of a successful civilization. It would also have three hexes between it and both New York and Washington; making this location be one of the better choices in terms of proximity to our other cities.
Location 3: "Agressive Forward Base"- As is implied by the name, a city in Location 3 would be good for an assembling ground for our forces when we go after the Japanese. Within its maximum cultural limits it would have Spices, Marble, and two fish (presuming that other cities aren't founded closer to them). A downside is that it would likely take the brunt of a Japanese counterattack, but its being surrounded by forests and hills would give our Minutemen an advantage in defending the city. Like Location 1, the nearest city would be Washington at four hexes in between the two cities.
Location 4: "Steal the Natural Wonder"- I would be against using this location, but I might as well bring it up. The advantages of this location would be that it would have instant control over the Spices near New York and would offer the opportunity to claim the Iron and the Natural Wonder (Krakatoa?) upon cultural expansion. It would also require just a single road to connect it to the soon-to-be-established trade network. My main issue is that it would cramp the growth of New York for sure as it grows. That and the fact that it would be a poor strategic choice, leaving the whole of the north open to Japanese settling. The nearest city would be New York at three hexes seperating the cities.
The Locations above are numbered in order of my preference, but what do you guys think? Any other locations or things to add to my notes?