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Nice summary, Narrowmind. I hire the Free Company as literally every nation. It's actually cheaper than normal troops at the start of the game (how much so depends on your development) and of course it gives a supplemental manpower pool. The available generals may or may not be useful, depending on how my rolls for generals are going. But the extra manpower pool mercenaries provide can be crucial early on. Manpower is a limiting factor for most nations during the game's first century. It's easy to burn through it much faster than you earn it until you blob out and also construct useful buildings.
So to the OP, yes, I use mercenaries in every single campaign of EU4.
As an addition, as long as your nation's total development is below 150, you have access to a special version of the Free Company that has a whopping -70% cost modifier, making them straight-up cheaper than manpower troops in exchange for some minor and largely irrelevant penalties to reinforcement and morale recovery speed. As with mercenaries in general, this development limitation means you won't be able to make use of them for a very long time (you could just never disband them, but the small stack will become increasingly irrelevant the more you grow), but they are a valuable asset for your first few wars.
That would just be ridiculously strong. Depending upon the size of the nation and how far into the game you are, that would be basically equivalent to giving everyone in the game an extra 20k to 500k extra Force Limit.
I personally dont always, but not using them slows the game down a lot.
I usually start of with mercenaries, and when i grow to 50-100k total manpower i transition to a pure standing army to increase my professionalism.
It isnt the most efficient thing, but i prefer it this way. Midgame mercenary companies tend to bloat to 40-60 units per stack whilst the average supply is around 30. Them taking attrition barely matters of course due to their insane manpower pool (around 150k for a 60 stack) but i just dont like the idea of units taking permanent attrition.
I did it few times playing obsurce OPMs on VH too, with loans tho. sadge.
But for regular EU4 enjoyer, y always hire free company at the start, plus any company with amazing general if you can aford it
Dont tell me Florry is using mercs as OPM without loans. Florry is a skilled player, but he is no magician or cheater. In fact, many of his early game strats even go so far to border bankruptcy. But thats where his skill shines, he can do all that and come out winning and stabilized. He is still in the same position as you and me at the start though, we pushed the same buttons and have the same amount of money. If i go in debt for mercs, he will too. Especially early on where Burgher loans are basically a staple to get as everyone.
Lets say you have a Province In Africa you captured/seized Colony and you only have one in that area - you are not going to click 30 times to make a stack in that area!
I had a scenario recently where I was at war with a rival and wanted their Colonial provinces - I did not want to transport troops 1/3 way round the world and risk attrition and possible loss of some transport ships to roving enemy Navies and I needed my war navy back home to suppress their fleet
I also realised l that I had several enemy small stacks moving in Africa (looked back at the region after some fighting in Europe) and if I did nothing a small national army would be potentially destroyed (it was 40KPlus vs 30K of mine) - so I hired Mercs which took me 9 days and completely turned the situation around and routed them
TLDR:
National Armies are better BUT you can't be everywhere and sometimes its not practical for your army to be somewhere - and it was needed somewhere else.