FreeOrion

I'm surprised no-one has posted about this one:
http://www.sinsofasolarempire.com/features.html

A 4x game due out some-time this year. Pretty graphics. We'll have to wait to see if the gameplay is any good though.

Seems like a cool game. It's 4X but more focused on Real Time combat. Though I hope that doesn't take away from the 4X part.

I don't like the idea of three races that look so alike, I mean they all look human. They could have been more original.

"Sword of the Stars" is another one that should be looked at.

It offers four races instead of three, each different in appearance, each with different method of space travel. It's a similar kind of game, 4X plus real time combat focus.

There was already a thread about Sword of the Stars (now two) but none about this one.
I'll wait before deciding which is better (or if they're both bad/good). The races may look samey, but that doesn't necessarily mean they'll all play the same.