I've been playing a bit with the 1.005 and the federation points need to go.
In the particular game I'm in, I've been WAITING for those points to rise above 400 but relations between races are already above 90, eveyone likes me and wars are a rare matter. My opinion is that it's slowing the game down with no particular goal nor reason. There are already is goals to fill in order to get races to like each other. We already had to have good relations with the races, good relations between races in the federation, enough credits / other currency, and now federations points on top of it ? That's too much, especially since the first 3 ways to get a federation in the 1.004 needed way more polish. And it's going to be a pain to balance one more mechanic against the 3 others anyway.
In short: even if there was other ways to win federation points, it does not bring anything meaningful to the game. Current mechanics do every thing they are supposed to help with.
I'm going to move back to 1.004.
PS: I made an effort and finished that game, I had to wait until 3051 to get enough federation points with all races...
Relations were good enough by 3015, 3020 depending on the race... Also the tooltip is broken as races convincing others show the account of federation points of the "convincing" instead of the "convinced"... This kind of balance problem will be permanent as it will ultimately be very difficult to get all limiters to rise at about the same rate, letting players think that one of the mechanic is trivial and the other one needs work: therefore they'll ask to get rid of the inconsequential ones.
This finished game further encourages me to ask for this feature to go away. Anything that adds to federation points should add to credits / relations between races mechanics instead of creating another mechanic whose only effect is to do what other mechanics already do.
Submitted a mantis for this:
http://www.arcengames.com/mantisbt/view.php?id=14743