In my opinion, if your a person that logs on once or twice a day, upgrading your high lv resource buildings even higher is better imo. Maybe not for the first like 4 days, but after that your likely not going to log on every hour. You can only que two building projects. So simply upgrading your resources is faster by doing the higher ones first. Of course, this is the situation im in now, it might not have been good before or later from now. However, I tend to keep farming fairly balanced, but still have one a couple lvs ahead.
Also, since im starting to get lots of food(I tried to keep it just above zero before, but now im actually in a produciton mode), I got lots of cows and will likely get some horses out too. For the newby players I can send you like 300 food for free, since it only requires me 1 caravan. Of course, if your in the SE, it may take a day to get there or more.. Hopefully not too long, waiting a week for my caravan to get back doesnt sound pleasent.
For research, I guess it depends on where your going to specialize. I tended to try and get my quest/trading research done, which helped with gaining resources/advanced ones in the begining and still now. There are some important city technologies you will want to get, if you want to actually get advanced goods. Magic is iffy, since you need books, which takes a bit to get to. Though, building a mage tower in the begining will help you stack up a lot of mana for later use. Im at like 3k or something from a lv 1. Finely, food/wood is quite important in raising an army, since cows/horses require a lot of it(cows are made into sadals and leather armor)
I could type more but its really late, so im going to cut it here.
Also, right now I have 50 cows in the production line and 30 horses.