well the last three days the 3 sides have worked great, I mean great.  what a joke
3-side has no mythical war balancing powers, IMHO.  Not compared to ENY.
3-sides is great when you had 400-700 players because it tended to spread the fight out.
With less than 200 that is not what you want.  You want to concentrate the fight. 
Inevitably, with 3 sides and minimal numbers your going to end up with one great fight on the map that 1/3 of the players can't get to.
With two sides, any fight can be accessed equally by all players.
I'm not against 3-sides.  I think you should be able to configure for either depending on you current population like you can configure 512 mi maps or 256 mi maps.
With the current numbers, I think 2-sides with sufficient ENY would be better. 
By sufficient, I mean at some level maybe even supply ord and fuel are effected.  When an outnumbered side is getting free ME-262 and the over-populated side is flying P-40 and can't get more than 1/4 fuel and no bombs or troops, numbers will balance, IMHO. 
If you stick a cattle prod up a horse's wazoo, you can teach him to deal a deck of cards.  It's simply a matter of voltage.  (Don't ask me how I know that.)