Agreed. I would love to see that.A more drawn out and gradual process of industrialization would be an interesting timeline, actually. Gives the colonies in the New World more time to age. Imagine a timeline where we don't have guns and mercantilism until around 2200. What would happen in the mean time?
I suppose waterpower and windpower use would continue to increase until reaching an economic upper limit. As for technological advancements, clockworks and wire-drawing come to mind, there`s a lot that can go on here before we stumble upon things like propellents. Mining will be more difficult but still be a big thing. Quality of iron, and ultimately steel, will continue to improve. The only thing to break the power of guilds is the scleroticisation of their hierarchies.
Colonies in the New World might not be THAT big a thing. No gunpowder is certain to butterfly the Ottomans away, so maybe European trade with Asia isn`t blocked / controlled by a dynamic imperialist Islamic superpower. Maybe the discovery is delayed for a century or longer. No centralised nation states in France and Spain arising in the meantime, perhaps Portugal being the most centralised one, for they managed to pull centralisation off without basing it on firearm-mass armies. No Aztec pushover and no Spanish Empire may well mean the union of Castille and Aragon falling apart again.
So maybe colonies in the New World come about later, and maybe they are much smaller and more like Portugal`s, or the Hansa`s, or Novgorod`s, or Genoa`s trading outposts. Gives the natives more time to recover from pandemics, too, and to adapt to the introduction of the horse.