Last thing I'd want is more towns. That shit has killed old school rpgs for me... just can't handle the tedium of towns and townsfolk. I used to eat it up as a kind, but who has the time for it these days?
If you're going to spend money... spend it on new combat experiences. More armor. More environments. More enemies. Spears. More area on the map that actually matters.
Gran Soren takes up a lot of real estate, and it's the least interesting place in the entire game. The fields that surround it are more interesting. The capitol is cool to see from a distance, and it feels really awesome to walk up to the torchlit gates after a night of killing undead... but that's about where the interesting part ends. Imo.
You don't need towns to make the world bigger. That said, I love towns in games, but my issue with Gran Soren is just that most of the town is empty. I loved exploring Gran Soren and finding all sorts of hidden, nestled treasure chests accessible only from the rooftops and the other secrets. I like going into town with a hulk of loot, just dumping it wholesale in my deposit box or at the store and upgrading. But like 95% of Gran Soren is locked buildings and shit.
But obviously if we're talking about balance and leveling up slowly, I'm not talking about more towns. I'm talking about more areas to explore with monsters! World needs to be double the size in order for slowing down the leveling to not be unbearable shite.