It keeps working, so I'm not keen to fix what ain't broke

For me it's fairly simple in Superbru. Stick to my shitty strategy of -1.5 handicaps for decent favourites. Opt for a sprinkle of draws in early stages, until we figure out some of the AFCON/CONMEBOL teams, and shit on the MLS ones, unless they're playing the Gulf teams.
These are all, as you say, either unknown factors, or with past results too old to have any bearings.
Logic dictates UEFA dominance. The money at stake backs that. But you never know. Maybe Chelsea approach this with fairground mentality, maybe the AFCON ones flex. Maybe even AFC clubs go deep. The only teams from UEFA that know how to deal with low-block tactics are City and Real. German teams are always puzzled by that since nobody does a Derby in Bundesliga.
I just hope this is all fun to watch!
"A sprinkle of draws in early stages"

I know you love cooking, I guess this is like a real recipe for you. Sprinkles of anything else? A sprinkle of surprises or no surprise at all?
UEFA is less corrupt than AFC, take that into account or leave it aside?
Bayern is crap against low-block tactics. Yet I think for the finals there won't be huge surprises. I think this Club World Cp is good to see some tendencies for the new season perhaps. Real Madrid, for instance, could show a different face here.
Fun to watch, that's a good question. Probably not going to watch too many of the early games.