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I have seen the AI bind gold wonders frequently. Especially AI that are realm bosses or such. Reducing the number to 1 means that I can't ignore even 1 bound gold wonder. If the AI somehow manages to cast the "Age of X" spells, then it can become unwinnable since the AI wisely gathers all of its armies to surround the victory conditions.
It is a minimum, as the line above it indicates 1/3 of the total amount of Wonders will be required. So unless you're playing an absolutely tiny 1v1 map, you aren't likely to need only 1.
With the Aristocracy subculture... would it be possible to have whatever army is attached to a Hero automatically join that Hero's new Feudal House after it's first created?
So the point is exactly that you want your Ruler to be going out and settling cities as quickly/frequently as possible for their Lieges to Governor. Units produced from any city already have a link to it, so whenever your actually assign a Governor they will automatically become of that house.