The fact that you can only research a max of 1 tech per turn, no matter your research output, has been core to GC for as long as I remember.
Not sure I agree with it, as it has strange implications at times.
It does tend to normalize research as it prevents any one Civ from getting too far ahead. But it also sucks when you are playing the Civ that is the leading research producer.
IMO, where it really slows research down is in the Ship / Ship Component techs. (personally have felt like those tech branches could be stream-lined a bit as there are way too many and many times, with very neglible gain) (however, carrier tech needs to be advanced to, at least, battleships)
Not really sure the '1 tech per turn limit' is good or bad. It does feel strange at times, *especially* when it is virtually unlimited when trading tech via diplomacy.