Monarch seems pointless. I'd really advise Emperor. I would say RaR, once you know it to some extend, is comparable to the unmodded game in difficulty for Emp/DG, easier below, and more random on Deity (depends more on the quality of your start compared to your neighbors - and, on the Civs you happen to find next door.). I would, however, advice to no longr play random Civs - pick one of your choice, and discuss how to play that trait/UU set before. With the highly limited early expansion, the very first turns are even more crucial in RaR.