Congratulations! There is no bigger pleasure then to start a game you feel it's balanced, and then in the end your state is a lot into the future compared to any other nation on your world, and consequentially you're its overlord. I still remember my last Emperor game, and I have no idea how many years have passed since it. If I dig on my old pc, I may find a date.
It was a victory on the style of yours, but I don't remember the details anymore (although I probably have the last savegame). I was using the Zulu. From that victory onwards, I started playing on Immortal. I suffered a lot on Immortal until I finally got my overlord victory on it and started playing on Deity. But I didn't get back to play Emperor ever again.
You know that this game is telling you to try a harder setting right? The AI is completely incompetent against you in that game. I always interpret this style of victory as: Yeah, I've beaten this level, now I should try the next one.
You are a player better then expected to all the AIs. Even winning an "equal" war, there is no equality in a bunch of Modern Armors vs a Massive sized army of Infantry, Cavalry and Cannons. The numbers may tell there is a balance, but a nation which is able to train Modern Armor divisions is far more capable to win a war then the one which is stuck in Infantry, no matter its size. The size is probably helping to stagnate it, rather then to improve it.