results:
hmmm.
Britain throws it's weight against the US. Naval denial of US to do much. If they want to get aggressive, Britain sends troops to Canada to invade US. Britain has superiority in air power, and coventional tactics. The world war doesn't last long enough for Canada to do much, but they probably gain some territory.
Germany takes over a good number of French colonies. Maybe a bit more of French territory. definitely takes over hegemony of some French territory. The strongest individual power has the least to gain from it's enemies. They maybe get concessions in the Ottoman area.
Austria- Hungary: strengthens hegemony in balkans. For how long remains to be seen.
Russia: OK, I'm a dunce when it comes to Russian aims in the balkan/ottoman area. I know they've steadily lost influence there. They want a warm water port. In this war, they get it.
Long term: magic got this alliance together. if the magic runs out, Russia has most of what Germany wants/can get at. Watch out Tsar Nicky. I can see Britain and Germany remaining cautious allies since the magic that made them allies obviously has Britain giving up pretensions of being a mainland power (and really, this is the new age. trade is the game, and Britain has plenty of it with Germany. B went against trade tides in declaring war on G OTL). Middle east: more or less the same, except for the players. Defeating the Ottoman Empire causes a lot of dislocations. they're ruled now by German and British consortiums. oooh. here's a future conflict between Germany and Britain - control of the middle east. Russia: it gets what it wants. a warm water port, and now it settles down to consolidate internally. Has some tension with Britain regarding the boundaries/goals of the 'stans' (afghanistan, turkmenistan, etc). Obvious future tensions, but so spread about the globe that it doesn't spark a second world war.