Wow I am little behind on responses! As for running without WA, the biggest aspect of the world that uses it is the running water above the waterfall. If you can live without that, it should run.
The world does require EPs, they are listed on the first post and on the world's description on My Sim Realty. I would recommend my newest world, Storybrook - I think it is fantastic.
As for how I did it, would you believe me if I told you I just wing it? I don't actually have a lot of planning in my worlds and some of people's favorites like Winchester Farming Community were accidents. So... I don't really have any strategic advice because its all based on what I think and see and I just go with it.
