I'm glad its the original time-line not the new one.
That said the period is, in theory, an interesting one. The key factor though is that I really hope they do something that isn't "monster of the week" style. I say that because they got away doing that with DS9 because of the wormhole; however without a wormhole they basically don't have much exploration wriggle room. What Kirk didn't find Picard did and most series try to underplay much of what Kirk did find since much of that series was a little over-the-top silly at times.
It leads itself well to a political or combat heavy series or at least one focusing upon internal elements to the Federation. Indeed seeing how the aliens live side by side; how things work etc... would be a good angle rather than "More new species"
You may be more right than wrong here. Considering politics in this country and around the world as well as how Star Trek seems to always have political overtones with what was going on at the time. That may not be all that too far from the actual plot of this new star trek. Although, it has to be done right, it can't be something stupid like the federation is "Not technically" in a civil war but is kind of thing. That is just not star trek style and too in your face so I am not strictly worried about that.
The rumor is an interesting one, because honestly taken it from your perspective it makes the most sense to fit a new ST series in that exact spot. While I too may wish for a further future faring ST. There is only so much more you can actually predict without getting deep into the mystical aspects of things like time travel and death etc... ST has always been one level under that and not quite reaching that phase because it is a show about SPACE travel and not these other things but they might encounter them...
That being said, another good thing to point out is that ST is always at it's best when it deals with these political and cultural aspects rather than just the techno-babble future stuff that everyone except die-hard fans just glaze over. So a show that deals mostly with this and not the monster of the week stuff is really intriguing to me. We got a dose of this in DS9 and a good sampling of the Klingong/Federation war in the Original Series, but this is only a few cultures. For instances we don't even have a great idea of how the Federation is run, or how worlds like Ferenginar or Bajor actually work in real life.
I mean Ferenginar is basically impossible and Bajorians worship wormhole aliens... If this new series is focused around a convoy ship or a low powered vessel that could be really interesting too but honestly the ship itself doesn't really matter. I never liked the more popular series ideas about Worf, or Riker please we don't need more of those two in the least! The underlings idea does have legs and would be interesting to see a cadet get his first post and learn all what one has to do to become an officer and rise up the ranks. It can't all be right on the spot, Captain is dead, you're it now son! Obviously. That's just kirk
And by god do all the crew really have to like each other??? I also think an anthology series like American Horror Story or American Crime can do wonders for Star Trek! Especially if they go in this direction. Each season they can focus razor sharp on different aspects of how the federation works.