Okay, so my second attempt...
After the first homeworld fell at Diszimar I pulled back my forces to Isrexthar. My initial strategy called for going through Oorvold, using Niwigpih as my forward base to take out the last homeworld at Caucave. However, as I quickly learned:
1. Niwigpih had not only an eye, but a fort mk 3 inside a forcefield WITH the command station. This rapidly delayed my final attack, long enough to be too late...
2. The AI was just mad enough to start sending forces at my planets north of my position. With my forces many hops away I could not even hope to reinforce in time...
So... this time I went with the second alternative - a more direct route from my own position. Aelro through Yelocyae, Tioerpar as my forward base, then smack the AI home world from the north.
First I needed to fortify and protect Isrexther - my Adv. Factory. I also took out the building threat from the surrounding planets. Then I grabbed my fleet and marched back to Aelro, leaving nothing alive (or online?) in my path to keep the threat low. From there I launched my incursion into Tioerpar, which was almost too easy with NO EYE and no stupid fortress inside a forcefield.
Forward base up, forces almost completely rebuilt, threat counter about 350 and forces on Caucave at about 450.... time to hit it!
No eye made it a lot easier. Ion cannon fell thanks to my raid starships (who died right after but their death was NOT in vain) I then took my fleet on a merry-go-round, knocking out one guard post after another as the AI poured in their reserves. It was about 15 minutes of white nuckled furious clickwork, but was done with only about 800 ship losses altogether.
Now for the final strike (haven't even pulled out once so far, and decided not to):
The good news - special forces never showed, and even if they did the worm hole they would come from was way out of the way, as opposed to before where it was between my fleet and my final target. I guess going the direct route cut off their entry(?).
Adn the bad news - the home command post is trapped inside two forcefields, next to a MARK 3 FORTRESS (whose bloody idea was it to do that anyways -.-). Fortunately I had most of my bomber fleet still, and very few enemy ships left to defend. So I parked my fleet right outside the range of the fortress, sent in the bombers, and used my Vampires and Cutlasses as cover for them. Down the fortress went, and the AI sends its last reinforcement wave to stop me. I regroup my fleet right on top of the command post, and finish off the reinforcements right as the command post went belly up. VICTORY AT LAST!!!!
Many thanks to the experts for providing helpful feedback during this game and with my previous failures. It feels good to finally get a hold of how best to approach the AI here. I will be starting a new game soon, and this time may throw in some expansion stuff to make it more interesting (any ideas?).
Final AIP: 504
Final Threat: 325
Total planets held: 12
Kill to loss ratio: 228%
Total Game time: 10:40