Clearly I'm getting old and set in my ways and can't keep up.
However, I'm enjoying my Master League (with the default crappy players, not real players) as Reading in the Championship, normal budget and transfer frequency, no transfers in the first window. Manual passing, default shooting and through-balls (rarely use the latter with manual passing anyway) on just Professional difficulty.
Early on was a real struggle. Using those typical players, I needed to play very defensively against any amount of real pace near my back line and goals were a fight to find space with limited dribbling, strength, balance and pace up top (at least in any meaningful combination!).
18 months in and I'm not yet frustrated (except for the occasional pass being ignore by the nearest player). First season I promised top 16 (lowest option offered as Reading) and managed 14th. This season I promised promotion (after 2 transfer windows I was cocky). I shuffled too much really and need to carefully manage my team spirit in order to have my players keep decent movement off the ball. I'm 6th at the halfway point of season 2 and only a few points off play-off spots.
No cheese. I am restricting signing my own youth as in season 2 they're a bit too good at 16 and already high team spirit combo (I want them to fix 'regens' sooner rather than later really) so makes the management game a little too easy.
I've lost/drawn games late on I should have held out in (mainly due to a defender dead on his feet letting a runner past). I've also won games in stoppage time due to concerted pressure.
People keep talking about scripting but I don't see it. I see my team playing better or worse based on the team spirit and players not yet used to my instructions being far less effective than regulars (Giois is still my most effective striker as the other 2 aren't up to speed yet, even though they've better stats). But I always feel like it's my fault (as the player, or as the manager) not the game fixed for the result.
Maybe this scripting kicks in at higher difficulty levels, I wouldn't know yet. Fingers crossed I don't get good enough at this to find out.
PS. I haven't gone above Professional for a few years since video gaming stopped being my primary hobby. However, I do remember the days of being one of the best PES 4 players in my online league on PC (using an amazing third party application overlay for matchmaking and so forth). I stopped playing Master League as it was far too easy on even the highest difficulty level and I did see 'cheating' in terms of player stats on the top levels which isn't what I won't from a game.
PPS. PES 4 was also the game with the broken lofted through-ball meaning Djibril Cisse was a beast as he was so fast
