I start the game with the 8 points to planet quality, and the other 2 into population growth. I have developed a simple strategy that allows me to win just about every time.
I fast buy one factory - and build mainly factories on all other tiles on the home plannet. I then continue to churn out colony ships as fast as I can - but limit the number of people on each colony ship to 100 or less (otherwise its hurts my income from tax).
I don't just colonise any planet I come across however - I look for the best ones (14 and above to begin with). I want to grab the best ones for my own benefit - and just as importantly to stop the other races getting them. I continually expand/push outwards using my colony ships to explore new systems to find the best plannets.
Typically I send colony ships out in different directions to explore systems. When they come across good planets I'll send OTHER colony ships to colonise them - allowing the existing ship to continue exploring outwards. Its vital for me to explore as many systems as possible before other races get there - so that I capture the all important huge-quality plannets AND so that I've got the ability to move almost anywhere.
I do NOT build anything on the planets that I colonise - I just leave them as they are.
Meanwhile I have my Flagship running about daft looking for as much extra income as I can get.
Using this strategy I quickly out colonise all the other races - and get to the stage where they are lots of substandard planets awaiting colonisation.
By this time I'm sure to have several great planets - e.g. of 18 and above (with bonuses etc I often have ones above 40). I take the best planet and buy 1 factory on it - then build a starport and fill ALL other spaces with factories. This planet will produce other colony ships - aiding my capturing of all the lesser planets. By the time its finished building factories it should be able to build practially ANY ship within 1 turn. The second largest planet gets filled with research facilities (don't quick buy any unless I have spare cash). I set up another 2-3 top planets to build a starport and all factories - though if funds are tight I won't quick buy the first factory - I'll just wait.
By the time I've finished colonising I've usually captured enough of the galaxy to be sure of eventual victory.
With regard to research I study the technologies that give quick boosts to social, miliary and economic ability (usually 10%), quickly up my ship speed (very important) and invest a large amount into moral bonuses (to improve the speed of my population growth on all planets).
For whatever reason, the AI hasn't ever declared war on me at this point - despite not having ANY military ships (perhaps its due to my empire size or because the game has newly began).
Once I've got all remaining planets I build up a few military ships - just so that its above 100% miliary rating. I then focus on having 2-3 top planets full of research facilities. My aim now is to research technologies faster than the other races can.
I becomes boring after this - with by far the greatest number of colonies your victory is insured.
I usually win the game having the top 8 (or less) planets full of factories and functioning incredibly well - and ther other 120 or so planets with next to nothing on them (though I sometimes put a Bank, Entertainment Centre and Farming module one each to increase revenue).