Aside: Some people think changes in global sea-level, sometimes called eustasy, are synchronous and evenly distributed (see early literature on sequence stratigraphy). But, as I hope this tiny introduction will illustrate, it's more complicated than that...
There are lots of other mechanisms that affect sea-level, not just isostacy. Here's a list of Local and Global effects I made for my thesis (Hall, M, 1997, Sequence stratigraphy and early diagensis: the Sobrarbe Formation, Ainsa Basin, Spain, Manchester); I've also blogged about it:
Some effects, like changes in the shape of the geoid and hydro-isostacy, affect the deep ocean too — changing the amount of water that, say, the Pacific can hold. Like all the others, these vary in time and space, and have complex relationships to the other effects in that table... so it's quite hard to model all this!
Footnote: There's lots more on Earth Science Stack exchange about sea-level.