Here's a look at Xoiben I the turn I start a research project (the actual bonus hasn't been added to the research total yet):

Now here's a look at it one turn later, after the project has been factored in to the research total:

You can clearly see that the research given by the project has been multiplied by the +500% the planet is getting to its research total.  Furthermore, from what I've seen, the base amount of research the project provides is about 1/3 the total amount of social production the planet has, after bonuses.  Thus, if a planet with 25 billion population has +600% to manufacturing, research, and wealth from starbases, and is running 100% social production, you'll take the base value of 50 production, multiply by 7 to get 350 production, divide by three to get 117, the base amount of research or wealth a project generates, then multiply by 7 again to get 819 research or wealth per turn.  Does anyone else feel that's a little too much?