Not all the places referred to in the book are on that continent, hedgeknight, which hopefully explains some of it. The prologue in Malaz City, and the attack on the cavalry contingent near the fishing village (with the wax witch) are both half a world away
Plus, Erikson tends to actually have proper maps, more or less - ie showing major cities, roads, natural phenomena, and doesn't add in random irrelevant places simply because they appear in the book *cough*Jordan*cough*
Enjoying the start of GotM is definately a very good sign though - thats what normally usually have issues with for being too confusing. I loved it personally, so you're a man of great taste