The USN sub fleet will continue to decimate IJN ships and the Japanese merchant marine.
Experiences in Midway will show the inadequacy of the F4F and the Hellcat and Corsair's development will be sped up, along with the development of the Helldiver and Avenger.
IJN and IJA aircraft will start falling out of the sky like flies pretty soon.
The US will start churning out escort carriers as a stopgap until they have enough fleet carriers.
And come 1945, the US will not hesitate to light Japan up with nukes like the 4th of July.
I don't really see any reason how the U.S. would speed up development of its aircraft or CVEs, but beyond that, I'm not seeing much here to counter what I said. Case in point, as long as Australia is isolated,
no suppression bombing of Japanese oil fields in the NEI is possible nor is relying on submarines a panacea:
A few hours after Pearl Harbor, President Franklin D. Roosevelt approved a message authorizing Pacific commanders to “Execute Unrestricted Air and Submarine Warfare Against Japan.” On the first day of the war, American submarines based in Pearl Harbor, Hawaii and the Philippines took the war to Japan, beginning an anti-shipping campaign. In 1942, submarines inflicted 72 percent of Japan’s shipping losses, but initially the campaign was unfocused, and aimed to maximize tonnage sunk regardless of ship type. This led submarines to sink only 9,000 tons of tankers (1.3 percent of total sinkings) with only slightly better anti-tanker activity through most of 1943. As a result, the Japanese began increasing both their tanker tonnage afloat and their imports of Dutch East Indies oil.
The campaign against Japan’s oil supply was aided by loss of the 14,503 ton Army transport TAIYO MARU (ex-German liner CAP FINISTERRE) to an American submarine. At 1200, 7 May 1942, TAIYO MARU departed Mutsure, Japan for Singapore carrying a large number of oil field technicians to revive the refining facilities at Miri and Balikpapan and other technicians bound for Palembang, Sumatra. She also carried 34 soldiers and 1,010 civilians including military governors, doctors, staff, educators and technicians needed to administer conquered Southeast Asian regions, but at 1945, 8 May, LtCdr William A. Lent’s (USNA ‘25) USS GRENDADIER (SS-210) torpedoed TAIYO MARU 80 nms from Me-Shima Lighthouse. At 2040, TAIYO MARU sank. 656 of 1,044 passengers, four of 53 armed guards/gunners and 156 crew were KIA (total 817). The loss of the oil technichians undoubtedly delayed the Japanese in restoring oil production capacity.
Late in 1943, the United States Navy made tankers the top priority target for submarines. Bomber attacks on Dutch East Indies oil refineries also aided the blockade by eliminating Japan’s capability to supply military refueling stations with refined product directly from the East Indies. By forcing the Japanese to ship crude oil from the East Indies to home island refineries first--before it could be delivered to consumers--these attacks increased Japan's tanker requirements, with a resultant rise in sinkings. Yet, despite these successes, USAAF leaders committed less than two percent of their sorties toward maritime missions. LtGen George C. Kenney, CG of the USAAF Far East Air Forces’ (FEAF) chafed to attack the lucrative oil field targets on Borneo, but the distance from his existing South West Pacific Area airfields to targets in Borneo exceeded the range of Kenney’s longest ranged heavy bomber, the Consolidated B-24 “Liberator”.
With no costly Solomons campaign, the Japanese will be able to launch Operation No. 5 against the Chinese in 1942, effecting what Operation Ichi Go achieved in 1944 in terms of setting up a land corridor for oil transport that could not be effected by submarines. Finally, with regards to nuclear weapons:
Having them is one thing, but the ability to get them on target is another matter entirely.