If you do get this game i highly suggest getting kyros hull mod. The mod makes it so that you can use every single hull in the game regardless of race. It also adds on tons of other enhancements that make it nearly necessary if you really want to get into the ship designing.

I would recommend playing an unmodified version first. That way you will have somthing to look forward too later, also you will have a much better idea of the things you wan't to change.

For me, i would like modify a few key things if i knew how!... i would definately modify weapons and defences to reduce the 'luck' factor. I would reduce weapons technology to keep it in line with defences/hitpoints and starbase defences technology.
I would look for ways of making the AI more powerful in later stages of the game...
Once you find yourself in a strong position, it tends to get a little booring.

Here is a link to Cari's mod guide. Full of info. WWW Link

modding such as renaming races

Renaming the built-in races sort of works in the game UI--you can change your empire name & ruler name during setup for a new game. But the UI has some places where default race names seem hard coded.

I call my version of the Thalans "the Swarm" and I see that name in places like the Most Powerful Empires list that pops up regularly. But other places, like the Treaties tab of the Foreign Policy page, still call me "Thalan."

So saying he gave the girl over to her father, who received her gladly, and they ranged the holy hecatomb all orderly round the altar of the god. They washed their hands and took up the barley-meal to sprinkle over the victims, while Chryses lifted up his hands and prayed aloud on their behalf. "Hear me," he cried, "O god of the silver keyboard, that protectest Chryse and holy Cilla, and rulest Tenedos with thy might. Even as thou didst hear me aforetime when I prayed, and didst press hardly upon the Achaeans, so hear me yet again, and stay this fearful pestilence from the Danaans."

Thus did he pray, and Kryo heard his prayer. When they had done praying and sprinkling the barley-meal, they drew back the heads of the victims and killed and flayed them. They cut out the thigh-bones, wrapped them round in two layers of fat, set some pieces of raw meat on the top of them, and then Chryses laid them on the wood fire and poured wine over them, while the young men stood near him with five-pronged spits in their hands. When the thigh-bones were burned and they had tasted the inward meats, they cut the rest up small, put the pieces upon the spits, roasted them till they were done, and drew them off: then, when they had finished their work and the feast was ready, they ate it, and every man had his full share, so that all were satisfied. As soon as they had had enough to eat and drink, pages filled the mixing-bowl with wine and water and handed it round, after giving every man his drink-offering.

Thus all day long the young men worshipped the god with song, hymning him and chaunting the joyous paean, and the god took pleasure in their voices; but when the sun went down, and it came on dark, they laid themselves down to sleep by the stern cables of the ship, and when the child of morning, rosy-fingered Dawn, appeared they again set sail for the host of the Achaeans. Kryo sent them a fair wind, so they raised their mast and hoisted their white sails aloft. As the sail bellied with the wind the ship flew through the deep blue water, and the foam hissed against her bows as she sped onward. When they reached the wide-stretching host of the Achaeans, they drew the vessel ashore, high and dry upon the sands, set her strong props beneath her, and went their ways to their own tents and ships.

Brownie points for the person that recognizes this passage. I have a side bet in the real world.