SPOILER - Don't read this until you have explored a bit
I have certainly enjoyed this so far - it is a challenge (for me at least) not to REX and not to resort to war.
I am playing the PTW 1.14 version at Monarch level.
First issue - which civ. I concluded commercial was useless for one city and industrious not much better since there were only so many tiles to improve. Militaristic didn't offer much so that left religious, scientific and expansionist. I didn't know it was an isolated continent where scouts made no difference so I went for the Babylonians. That turned out to be a good choice as my bowmen easily dealt with the barbarians.
Second choice - where to found Babylon. I went NW to the hill. I decided I did not need to be on the coast but would be better off forgetting about coastal improvements and have 20 land tiles around my city to work. Again it seems to have worked as other civs founded cities and built harbours so I can now trade with everyone.
With the place to myself I got all the goody huts (no need for expansionist). I researched warrior code and then beelined literature for the Great Library. I managed early contact with the Koreans as a Bowman spotted a city of theirs just to the south of the starting continent. They sold contact with me to the Indians and I was behind on tech. I completed the GL in 90BC and still sold literature to the Koreans and Indians. Eventually the other three civs made contact and my free research proceeded nicely - except that they all went for education rather that gunpowder so my free ride on research came to an early end.
I was able to get the furs early and the Indians have not expanded Karachi yet to take one - I should keep the other and both iron permanently. I had a colony exploiting ivory (I can't remember ever building a colony before!) but the Koreans built a city and squeezed me off all the ivory.
As the picture shows I am slowly using surplus workers to build outposts around my border to stop units from civs I am not at war with wandering across my land. Maintaining ROP's proved too expensive.
The main bonus (I hope!) of my city location is that if there is any coal around I will get it and build Ironworks (please!)
After losing the GL I fell behind on tech again but was able to catch up by trading Printing Press and have just (990AD) finished Copernicus. I managed the Hanging Gardens on the way as the AI's were slow to build it.
Things are going quite nicely as the AI's are fairly peaceful. I hope to research Democracy first and trade for the techs they have and I don't. The only problem so far is that I didn't get a religious GW so I won't get a GA in this game unless I build the Internet.
It is also interesting to consider the wonders, both great and small, that you can't build or are pointless with only one city
. Building a road to furs currently. 
I also just noticed an Indian city at the chokepoint for the southern peninsula of the island. Treasury at 522 gold. 
Only thing was that they forgot to defend their cities, so after my one legion(!) razed two of their cities they begged for peace.
(why don't I get these in my PBEMs??) and pottery among those. Only good one was getting CB.
and the close proximity to Ivory. If you build enough cultural improvements early enough (my build queue (Babylon):temple/worker/defenders/library/GL...) you can control them culturally (you also need to place military units on positions not yet covered to prevent AI settlement too close). Having these 5 ivory patches has proved invaluable in the tech race: it is 1800AD and Babylon is five turns away from building the UN while researching computers.
) but the advantages of getting contacts (especially since I had the GL) was immense.
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