It needs more realism, but it's really fun.
Winner's strategy to win the nuclear war:
1) move your subs close to the enemy
2) use your surface fleets to protect your mainland, make use of your airbases to protect your navy
3) find and destroy enemy subs before they launch SLBM's (this is especially important, AI got me almost exclusively by sea-launched strikes)
4a) wait until they launch nukes from their silos and use your subs to take out those silos
4b) use the rest of your surface fleet to scout the enemy territory
5) launch massive nuclear strike against the enemy silos
6) when the enemy territory is left almost undefended, launch ICBM's and depopulate it
BTW - place your silos close to each other, tit makes them more effective in shooting down enemy nukes. It will epose some parts of your territory, but if they want to waste nukes on it, it is their business
