I like the way it currently works, mainly because the access to strategic resources should be contested over. It adds some urgency to games when you're good ally right next door has 1 oil reserve, but its just on his side of the border. Well I think I'll go and take that.
I think of all the games I've played, I lost a monarch level game because I conquered half of my continent, and the only victory that was possible was a space race. And sure enough, my continent had 4 aluminum resources, unfortunately they we're all located deeeeeeeep inside the biggest nations territory. Well basically I lost that game, it's impossible to win a space ship without aluminum.