I would try to have both Connie and Peter active, because only active leaders improve their skills. So at the start, give Connie 1 lab and Peter the rest. Also, queue the next project in Peter's specialty for him, so that any excess RP won't be wasted at project completion. When Peter's project finishes and the next one starts, subtract labs from Peter until he's at 1 lab, and add them to Connie (who might have increased in % or capacity in the mean time).
The way I run my research is to try to have at least my top researcher in each field active with a single lab. Actually, I try to have my top 3 researchers active (so that if/when the best one dies, there's two behind him that are trained up). If a research has a good (~25% or more) bonus, I'll give him 3 labs. These three researchers for each field are working on the top 3 projects in that field, and any who are going to finish soon always have another project queued up. Again, the reason for doing this is not the research per say, it's an investment in my research efficiency by training scientists.
For actual project prioritization, I rank-order among the various fields - am I growing missiles, or productivity. Then starting at the highest priority field, I max out the best researcher in terms of labs, then max out the best researcher in the second field, etc. The reason for playing the "I'm either maxed out or minned out" game is that this gives you the quickest return on your research investment - on average any project you're focusing on will be "half done", and a half-done project doesn't do you any good, so you want to minimize the number of them (which maxing out on a few projects does).
John