I have just about decided that Democracy isn't worth the tech time to research. I tested in the early industrial age, and my net income (science plus money plus luxuries after corruption and unit costs) went from 1248 to 1279. woohoo.
The reduced corruption doesn't seem to help very much.
I know Dem. lets your workers work 50% faster, but with Industrial civs I have completely improved every square around all cities and fully connected them all anyway, so I don't really need faster workers.
Republic's lower war weariness seems to be very useful. I haven't waged long wars under Dem. so I don't know how bad it is, but I have taken over entire standard sized continents at one shot without upsetting any of my Rep. citizens. Maybe taking very few losses due to vastly superior tech helped there...
I recall that Dem. was _much_ better than Rep. in previous versions, but here it just doesn't impress me. Can anyone convince me that it's worth 2 optional techs and 5 turns of revolution to get to an extremely similar government from the "ancient" Republic?