Micro management has it's place. if you are really crazy about managing your empire you can get pretty engaged especially in the later game. There is a certain delight (and I still get it today when I play) when you discover a system, or a player for the first time. Or the first time you see a probe in your sector that isn't yours...

I really love the challenge and in the early game I am not a fanatic, I'll just make sure stuff is moving, and I am working on grabbing nice planets. Terran are preferred, since you can have the best population on them. I generally focus on the solo game, and trading. Since I like to be a researcher. Nothing like collapsing a star for the first time in to a black hole.