The research often comes in the form of a skit. I have seen projects from World research winners that looked like board presentation, with the kids in a line each speaking about their idea and a backboard for more info.
The most important thing, no matter what format they use, is that they be able to get out of all the information they wish to share in the time allotment- 5 minutes. I coached a team one year and all the info and solution was at the end of the presentation, but because the kids went long, or very lowly in one case, they spent all their time on presenting the issue and never got to their solution. It wasn't a great plan and while I had stressed to them about time and we had done the skit many times, I now just tell the teams, "Nope, you can't back load your solution."
The function of the presentation board can be varied. It often serves to make sure kids hit important markers that they carefully thought about in group, but might forget in their nervousness during or after the presentation. It also serves to tell teams in the pit area what your team did for their presentation; Sharing ideas and allowing other adults to ask question and celebrate their work. I have seen several very successful boards that have 1 flap dedicated to each of the area of judging; robot design, presentation and core values. The teams will bring the board into each judging room and use it as a prop, sometimes talking about it, sometimes not- but always having it there as a backup :)
To me, the main purpose of the boards is to help the kids and act as review of the process when they need it. Using that as your guide will help decide what goes on the board.