Might sound like a simple question, but of course that depends heavily of what sort of conflict WW1 ended up being, and how the CP won it. It's not the same if they win an early knock-out victory against Russia alone in 1914 as if they finally wear down an Entente-sans-USA in 1918.
So what are your takes, ladies and gentlemen? What is better and what is worse than OTL, and overall, what outcome would you have prefered?