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my first playthrough as england i had a grand total of 1 province turn protestant. so i'd take religious on a case by case basis.
i usualy went with expansion before trade, because i found that locking down a region like north america as quikly as possible was the most important thing, then you could get trade home uncontested, but thats changed with patch 1.4 and i suspect directing trade through the north sea will become the priority, so trade will probably be the most important 3rd idea now if you've got the diplo points for it.
I've done a few England/Scotland games and it really goes down to what your goal is. Economic is good if you don't want to expand alot, Quality is very useful because of your ships. Offensive is also quite good, for the forced march (you can land from your ships at twice the speed, very very valuable for tactical battles).
As mentioned, religious ideas is a wash, you don't need it unless you plan on elnisting privateers. Exploration ideas isn't a good first choice for England because you don't have colonial range (but you PU'd portugal, so this might make sense, given you now have their fleet basing rights implicitly, you can leap frog to south America...).
Just don't get another diplo idea. If you're going to be behind in tech, don't be more than 5 levels behind.
Innovative isn't what you want, really (or in my opinion). The tech cost is nice, but it also has revolt risk events (that give a futher tech bonus). The advisor costs is nice, and so is optimism, but it's only really really useful if you're constantly at war.
Once you get the War college and Admirality, you don't need the extra leader anymore (you rarely need more than 3 military leaders late game). The prestige decay was nerfed, and you can usually get enough events that give prestige to offset it. Merc cost is only good early game (your force limits get so large, but you don't have enough mercs to field for your army, so relative to your enemy, mercs won't help that much late game). Maintance cost of 10% is meh.
Economic or quality is much better than innovative in my opinion. I take innovative ideas if I need optimism, but if you don't need it then I would stay away. As Russia (Novgorod) or Byzantium I like to take it just because the extra military leader early game is good and you have tech penalties which are a pain to deal with. Optimism is needed because you are always at war with your large foce limits and man power.
As a trade power, it's much better to have a strong fleet than extra leaders and cheaper mercs and a population that tolerates war. If you're fighting naval battles mainly, not land battles than your WE shouldn't get too high. Attrition now is the main cause for high WE, and if you avoid the land, then you innovative isn't as benneficial.
Also, after 1600 (or is it 1650?) the innovative idea groups starts giving "revolution stalls" which is a cost in tech increase cost and other "bad" things like that. So late game, it's a no-go because it's main benefits are already provided and mitigated by bad events.
the only other ideas i really want to take over them would be offensive and quantity, offensive for being able to dictate the battles, and quantity so once the battle is won i can regen quickly and siege every province to stop them from building more troops.
i just find diplo points to be solid gold, you need them for taking vassals and provinces too... never have enough.
edit: and if you side with Aragon, you can take the canaries early on from Castile easily Core them with fleet basing rights from Aragon. means you can easily get into America within your first idea group. probably not relevent to Corvus anymore though :P
edit2: i clearly made the wrong choice in this matter on my current england game i started after my last lost Ironman :(
http://steamcommunity.com/sharedfiles/filedetails/?id=218466345
if anyone has any idea for getting me an extra 13 distance (already have the advisor) i'd appreciate it :P