When I play I specialize my planets into economic, research and production planets. I don't know if this is the optimal way to play, but I have found it to be the best one so far. Since I specialize my planets I set the production wheel individually for every planet. 100 % wealth on economic planets, 100 % research on research planets and 100 % production on production planets. I have thus no need for the global production wheel.
Also, on the planetary productionwheel I (almost) never use intermediate numbers. It is always set to the 100 % extreme values and I therefore find the wheel more complex than what is needed.
Also, it renders alot of micromanaging because each time a new level of building is researched I want it to be upgraded as fast as possible. I therefore have to go into each of the affected planets and set the wheel to 100 % production and, once all the building are upgraded, go back and set it to 100 % research, production or economy.
So this sums down to:
1 - I never use the global production wheel
2 - The planetary production wheel are more complex than what is needed since I almost only use the extreme values (100 %)
3 - It renders alot of micromanagement when upgrading buildings.
What are your experiences concerning this?