Not turn-based, you can stop the time.
The game is fun and has a lot of true Historical background in it.
You can play ALL the Nations in it (if they exist in the timeframe). Like Savoy, French, Sicily, Denmark, Finnland, Scotland, Turks, Byzantine, Moskow, Teutonic Knights, Venice, Hungary, ect...
They all have their own CoA-s and flags, and some have even unique units.
EU1 and EU2 has History related events and some possible 'fantasy ones too' (as if Russia gains controll of the Balkans and Constantinople, then The Tzar claims Russia as the 2nd Rome, or when Burgundy does have own heirs and thier territory don't gets under Habsbutg rule)
Many mod-ers make extra things to make the game even more enjoyable, and all this can be found on Paradox-s own forums)