Basically, first you do your ID layers to your satisfaction.
Then you can duplicate the ID layer use smart blur, 0.1 radius, 0.1 threshold and overlay only to get the edges. Then you can put it into an alpha layer and expand the selection by 1 pixel to get borders thick enough for your "Borders" layer.
OR you could duplicate the ID layer. Use "accented edges" on the copy , with settings (edge width = 3, edge brightness = 50 , smoothness = 1). Then set blending on the copy layer to difference, magic wand (no anti-aliasing, 0 tolerance and non-contiguous) the black, invert selection to get the borders layer.
I'm experimenting on which way is fastest easiest or produces the best results.
After that's done, you can use the selection, with a red, do a foreground fill (alt+backspace) to get a new Borders layer.
Then get a new layer (I name it "lines"), and do a foreground fill on that layer with the colour: #AFAFAF.
Then I use these layer effects:
OUTER GLOW
Blend Mode: Multiply
Opacity: 26
Noise: 0
Colour: Flat Black (#000000)
Technique: Softer
Spread: 13
Size: 49
Contour: Default
Anti-aliased: Yes
Range: 50%
Jitter: 0
BEVEL AND EMBOSS
Style: Inner Bevel
Technique: Smooth
Depth: 171
Direction: Down
Size: 1 px
Soften: 2 px
Angle: 139
(don't use global light)
Altitude: 39
Gloss Contour: use the curved one that's on the very top-right, looks kind of like part of a sine curve. Not anti-aliased.
Highlight Mode: normal, white, 100% opacity
Shadow Mode: Linear Burn, Black, 8% opacity
CONTOUR
Use the one right below the default one. It should look like half a hump.
Anti-aliased: Yes
Range: 67%
COLOUR OVERLAY
Blend Mode: Normal
Colour: #424242
Opacity: 100%
Then you make two more layers, one for Lands, and one for Oceans. Use the magic wand on the ID map to get a selection, and then on your Ocean layer, foreground fill it to white. Make sure it's on top of the Lands layer. Also make sure this layer is on Lighten, with opacity set to 45%
For the Lands layer, you can pretty much foreground fill everything, to #C0C0C0
For the font, I use Bernhard Modern, and when I curve it I find I have to use all sorts of nasty tricks to get it looking just right. I think this is because the actual map was done in Illustrator, not Photoshop (where you can do curved text). Also I don't have Photoshop CS, which can do curved text pretty easily.