Hmm... personally, I think it'd be very interesting to see Philip II Augustus not be as successful as he was in OTL. Maybe he dies younger, maybe during the Third Crusade, if he still partakes in it ITTL. If he does, I think that Louis VIII is around 3 at Philip's death; making for a long regency. Just a thought. I eagerly await more!
He is (nothing has changed in Western Europe yet), and yes, Louis is three as of the current year.
Are you looking at Philip, personally, being less successful, or a weaker France?