In an attempt to make a very long, continuing story short, and manageable...I present the Battle for/of Charybdis.  I say for/of because initially I launched an offensive to take the planet, a key point of space with four jump lanes converging.  Controlling this planet, is controlling a large portion of the map.  Now the battle has become a meatgrinder, eating ships, material, and people.

After my successful offensive, I began the process of colonizing and establishing defenses; only my enemies were not going to give up so easily.  The AI responded swiftly, brutally, and with overwhelming power.  You can see from watching the video as the AI gradually drove me across the planetary system, from fighting on the outskirts, to fighting around the planet, to fighting on my end of the jump lanes. 

In real time, the battle has been active for over ninety (90) minutes.  I push reinforcements, the enemy counters - you see in the video multiple enemy forces arriving as the battle is ongoing. 

With the current battle, I estimate my losses at the following:
10+ Capital Ships
200+ Frigates
50+ Cruisers
Thousands of fighter craft
Dozens of orbital facilities

I've launched as massive a counterattack as I can manage in my game, alas right as I pulled forces from across my empire, a large pirate fleet just arrived - kicking my tail. 

My game/this video is utilizing the Distant Stars mod, with some of my own personal modifications.

http://www.youtube.com/watch?v=me3NRxw9i8M
(movie is 9:15 in length)