I was hoping for something more like an Europa Universalis 2, which is real time but paced slowly enough that it has all the strategic gameplay you'd find in a TBS game. This game owes a lot more to Starcraft, Total Annihilation, and RoN than it does to Gal Civ 2 or EU2. If I'd known that going in I wouldn't have bought it.
Modded the game can be slow-paced. My opinion on this game is that it could easily become an empire building game with the right settings. I've modded the speed of the game quite a bit so far: I've slowed unit top speed by two-thirds and acceleration by one third, significantly increased production time and development, slowed inter-planetary jumping by 75% and slowed inter-star jumping by 50%. I also disable the wormhole jumping to make sure fleets spend a significant amount of time traveling between systems. I've also made a custom 4 player galaxy with about 30 stars and about 60 planets (actual planets).
These are just the changes I've made to slow the game down (I made a lot of changes to the unit trees as well). The result is that it plays much more like a strategy game than a typical rts.
I've also added the extra UZI planets and exaggerated the benefits and drawbacks of each planet type so some systems might have a very high economical value, while others are suited to industry etc.
The developers could have made the game more of a strategy game if they had wanted to as it was as easy as adding several slower settings than "slow".