Wow, that looks really fantastic. My only nitpick is that the yellowish glow around the cartouche (which is beautiful by the way) is the same color as the landmasses, and it makes it seem like there's a cartouch-shaped continent hidden under there. Oh, and maybe lower the opacity a bit on the hashing around the coasts.
As far as naming, I'm not sure what the actual size of the map is (is this the actual size?), but that's going to play a big part in how much stuff you label. If this is a continent (even a smallish one, like Australia) I'd think you'd want to label at least major regions within each country, mountain ranges, islands and oceans.
Overall GREAT work. Have some rep!