I think there is general agreement German bombers are awesome. They threaten the Allied Atlantic Fleet in the Channel and off Gibraltar, the Allied Med Fleet, Moscow and Egypt. Having said that not sure buying bombers before you have enough ground troops to push Russia back is a good idea.
I have played a succesfull game where Germany was able to take the West Indies and Strategically bomb Eastern USA
Also your Allied opponent was obviously weak. The German Navy should never have control of the Atlantic.