- Increase fighter/bomber squad sizes 10 ships can't be that CPU intensive or make it scalable for different system requirements.
So this is supposed to be a purely cosmetical change that shouldn't affect balance ?
- Modify Phase Jump Inhibitors to hold the fleet for a set amount of time as antimatter wears down.
I'm not too sure about this one. I agree that the Jump Inhibitor could use a buff, even if it can already be pretty useful as it is, but I feel that the advantage of the defender in the game is very big already and this change would help him even more.
- Increase all capital ship hull and shield hit points by 1.5x , as currently 99.9% of battles are focus fire on the enemys Capitol ship till its dead.
Then you'll get shift-click-focusing on the frigates until they are all dead and then focus-fire on the capitals

Also would this come with a cost change for the capitals to discourage people from building more capitals instead of frigates with that change ?
- Further increase shield modulation (i forget the exact term) to negate the effects of focus fire.
I don't see the reasoning behind this. Currently focus targetting priority targets is a big part of controlling your fleet in combat (besides fighting against the retarded AI that tries to suicide your ships as fast as possible if you leave it alone for 5 seconds). If at some point it is better to split your fire-power on 3 or 4 targets instead of targetting a single ship, how does that improve the game or even help with "epicness".
- Increase the need for FLEET"s" instead of the current SINGLE UBER FLEET OF DOOM"TM"
Agreed. But How ?!
Currently it seems that you need a large fleet to penetrate any kind of defense AND what's imo more important: It takes a lot of time to kill that defense. By the time you have finished off the "static" defense your opponent will most likely be there with his main fleet, unless it was really far away. Then your split fleet has to run back to where it came from and your opponent can just rebuild. Now him moving his fleet around could create an opportunity for attack elsewhere, but again... you have to kill the defenses first which usually gives him enough time to get back there.
Now what to do ?
Weaken Cannons and Hangars ? Will probably make for shorter games, not really what you are looking for if you want to make the game more epic.
Increase fleet travel (phase jumping) time by a lot ? Will make the game boring, because it is so heavily focussed on fleet action. Unlike real 4X games there just isn't that much to do when you're not controlling your fleet(s).
- Make fleets consist of 2-3 capital ships and 20-30 support frigates. Allow up to 8 fleets total. As the current max capital ship amount I believe is 16.
"Forcing" players to go with a more or less pre-definded ship ratio ? Doesn't sound good. As for reducing the maximum amount of capital ship slots that might be a good idea, because it makes capitals more "special". But then... Is getting all those unleveled capitals actually worth it in a long game ? Don't they just insta-die to LRMs/Bombers ? Buying levels for the crew costs a lot too and all that money (research, actual ships, crew levels and it's also 16x 40 fleetpoints !) can probably be spent more wisely on cruisers or frigates.
- Increase the ability of FLAK frigates (does anyone build these?) to actually kill fighters/bombers, as to compensate for the larger amount in each squad.
I think the flak frigates still suffer from dumbness. IMO they do quite well if they actually do what they are supposed to do. Also, how do you counter mass fighters if you don't ever built flaks ?

I think it will be very hard to increase the 4X- or epicness-factor in the game by a lot without adding more content.