I have won every game I play using this strategy, my latest game was a large map with all 9 civs on intelligent.
I play as the drath legion without customization for the following reasons.
First they start with impulse engines and industrial theory, so you get impulse engines and factories right off the bat.
Second they are a good civilization, so you can use all the evil planet bonuses and become neutral without spending any money.
Lastly their raacial abilities are well rounded and numerous.
Usually what I do is crank research to 100% for the first four turns and research hyperdrive. This gives you the ability to make colony ships with 7 movement points (2 hyperdrives at 2 movement points, 1 impulse drive at 1, a base movement of 1, and 1 extra global bonus movement from hyperdrive technology) . As the AI colony ships will only have 2 movement points, having colony ships with almost 8 times the movement speed pretty much nets you every planet that is anywhere close to your home planet. The only thing you have to worry about is the range of your colony ships, however I play with abundant planets so I can simply hop my way across the galaxy colonizing as I go to increase the range of my ships. I ususally send the first colony ship at a star system a medium amount away from my home colony to serve as my jump off point for the rest of my colonization.
While researching hyperdrive I buy 3 factories on my home planet, unless It has manufactoring bonuses, which my increase or decrease the amount I buy. I buy enough so that I create colony ships in two turns, if I have a lot of bonuses to manufacturing you can sometimes buy them in 1 turn, although you have to generate 119 shields per turn, so it is not always fesiable. After hyperdrive is done I crank military production to 100 and crank out colony ships. I usually buy starports on my new planets and set them to building more colony ships, and purchase more factories if the planets have manufactoring bonuses on them.
After that, it is basically a cakewalk for the rest of the game, I can usuaslly colonize around 20 planets in a large game, with the best ai getting around 10.
I keep my approval around 70 for the entirety of the game, so tax rate is based off of that. After I colonize the planets, I do 20/30/50 sliders for military, social, and research until I get all the resources I need, then 10-15/20-30/50-70 depending on what I am doing for the rest of the game. I usually research trade early on and get that going quickly, as you are probably going to be running a decifiet until your population gets higher. I then usually trade my trade tech to all the other civs for their techs, so you quickly get on par after your colonization spree.
I then see what weapon techs the AI is researching, most of them will probably be researching one or two, I then research the one they are not. I research the given tech until I get to the second weapon upgrade, the one that gives you 2 attack for mass drivers and lasers, and 3 attack for missles. I also research medium hulls at this time. Once I have done that I create a ship which is fully loaded with these new weapons, and have all of my manufacturing planets make those. These ships are far and away better than what the AI is making at this time in the game, I have lept to the top of the military ranking building only a handful of these ships. Doing this stops the militaristic civs from declaring war on your all the time.
From here you can win however you want, I have gotten everything but an alliance victory using this strategy, and that is the next thing I will do.
I have not tested this on the difficulties where the AI starts to cheat in its production capacity, the 4 turn lag you begin with might start to hurt more when that happens, but I still think the movement advantage will outweigh it in the long run.
As I said above, I play as neutral, the increased trade and free terraforming are too good to pass up, and once the neutrality research centers are put in the game it will get even better.
The only thing that can really hurt you is if your starting position is surrounded by ai's with no room to expand, although even then you can probably leap frog one of the ai's and still do alright.
Hope this gives you guys some food for thought, it actually has made the game somewhat boring as after the expansion stage the game is pretty much won.