This has been discussed before, not as long ago... search button, if you cant remember a month back.
The 111 would be even worse than the ju88 in the MA. The most needed german bomber s still the ju-188: fast, could carry a relative heavy bombload, had OK defensive arnament with 4 or 5 13mms and an optional 20mm on the top coupola, was produced in numbers, was successful, was way more reliable than the 177 and had a night fighter variant too.
Other: the speed data you listed is possibly with the Fritz-X missle installed. It could do like 320-330mph with internal bombload or empty. But even tho they solved the engine overheat problems til '43, they couldnt complete the planned 4000 aircraft/month (LOL, 1100 made overall and only a very few after the update) and the 188 became the most used late war LW bomber.