150 hammer observatory adding 25% research to my base research output of 20 (80% science of 25 commerce) = 150 hammers for 5 research per turn.
150 hammers can also be converted to 150 research by building research.
Do you want 150 research or 5 research per turn?
If you do such comparisons, then set the research slider on where you'll have it on average. It's no use to assume your current 80% slider rating when you're going to upgrade lots of units in the future and will set the gold slider at 100% for several turns to accomplish that.
Good post Roland. I just wanted to point out that one can often get more beakers

science

by building wealth and increasing the science slider setting, since the wealth produced pays your expenses and frees you up to run a higher science slider. Then you're running the beakers produced by commerce

commerce

through your science multipliers. In my current game, I was getting 1.19 beakers per 1

with several libraries, plus an Academy in the capital. I'm playing as a Philosophical leader, so I wanted to take advantage of the double production speed universities. Once I got those set up, I was getting about 1.35 beakers per 1

, and now that Oxford University is up and running I'm getting nearly 1.5 beakers per 1

, which means that every 2

used to produce wealth can be converted into 3

via the science slider, while the same 2 hammers used to produce research produce only 2

. The ratio would be even higher if I were still running Bureaucracy. DouLou, you can calculate the empire-wide value of

-derived beakers to

-derived gold by (one way to do it) lowering your science slider a notch or two and calculating as follows:
(# of

produced at higher science slider setting - # of

produced at lower slider setting) /

gold: produced at higher GOLD slider setting (LOWER science slider) -

produced at lower gold slider setting)
Sorry if that looks clunky.
e.g. for me recently, (870-230 (100% science vs. 0% science)) / (219 - -213 (Negative gold at 0% gold slider) = 640 / 432 =
1.48 
per 1
Because of this dynamic, I haven't built research much, unless I'm in a golden age and already running 100% science. Sometimes people will get alphabet before currency and have the option of building research but not the option of building wealth yet. There may be some other applications which I'm not knowledgeable about. Also be aware that I usually have at least some cottages, so commerce is important to me. Some people take a more specialist-heavy approach, and the beakers produced by specialists are not subject to the ratio (that's why I used the phrase "

-derived beakers" above). However, the gold produced by merchants, priests, or settled great prophets can also help pay your bills and let you run a higher science slider.