The best use for spies is sabotaging tiles improvements. It's relatively affordable (200 gold), and it can really help. Depending how late in the game you get them you can use them to sabotage pasture (no horses = no cavalry), iron (no cannon), oil (no tanks, planes, advanced naval units, gunships), aluminum (no modern armors, advanced planes), copper (reduce building speed of some wonders).
Usually, the AI doesn't fix it for another 10 turns, sometimes even more (monarch level).
They're also useful in the fact that they can't be attacked, so they're good for scouting ahead to plan an attack.
Stealing plans has some uses, but it's not cheap (sometimes 500 golds).
I consider sabotaging production as next to worthless. Upward to 6000 golds, and it doesn't reset the production to 0, merely drop it a few turns (2 turns, for spaceship part on average).
However, sometimes it's your only solution. If you know you can win in 4 turns, but the AI can finish his spaceship in 2, then you'd better go for 100% gold and do your best to blow up his last piece.