I think this would be a good idea if we plan our strategy accordingly. I mean by that: if we let ourselves grow and try to keep a balance of power with the neighbors, TGL will be of limited use.
However if we overcompensate with a boom on the early military, the dogs will bark the other way for so long as 30 shields MW's can bite them back. Once we have it, the economic situation will speak for itself and we will be back on track with the other boys, with an army of ready-to-upgrade knights and the funds to realize it.
This plan is a bit reckless in that if we want for it to work fully well, we need to divert our ressources away from infra - no CH, no lib, no market for a while. But once we have a runnning military, we can compensate the lack of infra by the addition of newly conquered lands.
So TGL is risky either way, and if we are going to risk something, I'd rather we be serious about it and prepare to make the most of it. All military and growth until TGL booms us in the MA, and then we can re-assess the situation. Otherwise it's a big 600s of status quo, and I dislike that idea.
Ok, not for city number 2...but somewhere down the line. 
