Military Power = Sum of Attack Points (Defense is Irrelevant, Cheese For Everyone)
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I have been carefully observing the fleets of my empire and several minor races lately and arrived at this conclusion. The numerical value of military power is equal to the sum of attack points; defense is completely irrelevant. The result of this is that Corvettes are the best military power inflator in the early game, with Anti-Matter Missiles taking over in the later eras. This method of calculating military power makes it very easy for human players to exploit the AIs weakness in evaluating military threat. Not only can a store of Anti-Matter Missiles deter the AI from attacking, you can also use them to enforce peace in the galaxy by trading them to weaker races and balancing military power. I don't know if this is a bug or feature, but I hope it is corrected soon.