Some points I like to mention:
1. The AI is teching to slow on higer levels, no matter how you look at it in BtS. Simply take my save and peek around at the other conti... ....if I remember right some not even have CoL at around 1000 AD. You don´t need to play as England, beeline to rifles or a good strat. to take them out... ...simply kill them with knight and maces if you want (at 1000 AD)
2. Although the aggressive AI might solve some problems (forcing you to have more troops for example), it doesn´t fix the geneal problem:
I don´t want to meet an AI on emperor level or above around 1000 AD running around with swords...
If you're just getting maces at 1000 AD, that's not really a problem, though. And if you're playing with Aggressive AI, you're going to be less likely to have them, as you've spent more

on units instead of settlers/buildings, and more

on upkeep rather than science.
3. Another point against the aggressive AI is, that I (and maybe some other players) like to play a builderish style. I don´t want to produce troops like hell from the beginning of the game or be engaged in endless wars...
Then play on a lower level where you don't actually need to spend every hammer on troops to keep up with the AIs militarily. Making the AI keep up with you rather than crush you when you're constantly running 80% - 90% on the slider, with a warrior in each city seems ridiculous.
4. I don´t like the AI going MORE troop crazy as it already does. Like uberfish mentioned some posts ago, it really IS like "banging your head against the wall" if you have to kill tons of outdated units before being able to advance into AI territory (not difficult, but time consuming and basically only annoying)
You're looking at the number of troops the AI has on Deity, and then adding even more for Aggressive AI. Believe me, if you were playing with Aggressive AI, you wouldn't be playing on Deity (or maybe
you would, because you're just that good, but we have people playing on Noble normally jumping up to Emperor).
5. And, last but not least, I don´t want to play on deity all the time. With the starting bonuses on deity the early game just isn´t much fun and you ALWAYS depend on luck surviving it without beeing attacked (and killed) early. I want an AI that can keep up more or less decent on emperor and immortal, so some things have to be done here
...
Therefore I still favour the solution of giving the AI some boni back
Have you tried Aggressive AI? I don't actually play on those levels (was just getting to Monarch pre-BTS), but I've blown away Emperor without Aggressive AI, and do fairly well on Prince with it. But as per Blake, if you're not playing with Aggressive AI, you're handicapping the AI.
There are definitely changes that need to be made (and from the quick look I took at Solver's list, a lot of them are there), but the Aggressive AI should be the base from which they are made, especially for Monarch+. Find your level there, then worry about boosting the AI.