So, say that Edward is born a healthy child, and lives out a full life instead of the seventeen years of OTL. How would his survival change Europe? We could see Calais being kept longer ITTL as an initial butterfly, should England not be forced into war whenever the Habsburgs felt like tearing a chunk or two out of France...
Another point to consider is that, without Bloody Mary to lower the public opinion of Catholicism in England the way she did IOTL, you'd see a significantly larger population of Catholics in England towards the end of his reign.