@Fatespinner:
I hope so. I think the basic rules that are needed to play are how the basic combat works for ground units and fighters, how transports work, how your production works and how you win. With that you have everything you need to play.
I would add the steps within each turn from purchase to income collection, Fatespinner. That automatically includes combat and non-combat movement and therefore friendly, neutral and hostile territories / sea zones.
@Fatespinner:
Bombing, airfields, naval bases, submarines and all other stuff can be introduced during the game or after the first game.
Bombing, ABs and NBs do not exist in 1941. As you say subs can be explained when you get to their rules being relevant. The same is true for planes on carriers and how they move, blitzing, capital ships and other “exceptions” to the basic rules. Key though is that the “student” accepts this approach and does not feel hard done by as each new rule arises, potentially to their detriment.
Another key is not to tell the “student” what to do. Rather to give options. And then not to be too incredulous when they insist on doing the wrong thing!
Good luck!