I agree, There is nothing I enjoy more (not at the moment maybe
then having to pause the game because I lost a major battle and must change my focus. The idea that I can build endless research facilities does not mean I should. The game can still be "gamed" for techs and military designs, but what value to game play would that bring? limits cause you to create combined force strategy to both hold an enemy at bay and advance in a way that has higher odds of positive losses (ratio in your favor). Because of this, even aircraft carriers become a useful tool because you have no other place to land your planes(treaty limits). Limits make the game much more real, that is why I have advanced the idea of a Parliament and world bank setting that have real in game affects.
For me, this has allowed this to become the greatest strategy game I have ever played and I started back when civ I was the rage...