In the beginning I thought so, too. But I was told that in AlwaysWar and us being Monarchy instead of Republic it would be hard to out-research the AI, even on Monarch level.
Lurkers Comment:
I hope I did not imply or say that. You may have trouble researching in the first part of the game, but that is when you use the GLB. It will be easy to out research them, once you have a lot of towns. Even easier, once you can gets some farms going and easier still with rails.
Things get worse for them as they are at war and not getting bigger and not able to get enough workers. Out stripping their free unit support and then losing towns.
Your problem will be running out of time to conquest them, if there are islands and continents.