For starters right now intelligence about the Borg attacks seems a bit thin, without knowing how many ships they will send to the core worlds, it doesn't necessarily make sense to hold back.
For example if the Borg choose to send 1000 ships to attack each core area, they would be overwhelmed.
It appears what the Federation is doing is trying to buy time without losing to much space. So far most of the battle scenes show that the Borg's offensive weapons are working extremely well, if you recall they went through the 3 ships at Khitomer fairly quick, although they lost the cube, it cost the Federation another form of attack, which now is useless.
As David Mack shows in the book, the Federation is now facing anti-matter shortages; plus probably a host of other shortages.
In regards to Picard- think logically about it. Right now their only weapon which consistently works is the transphasic torpedo; if they don't use it, then what do they use? Borg ships can easily keep pace with and surpass the speed of Federation ships. How do they fight back if not with the weapons they have available. Only so many tactics exist.
Dayton3, I suggest Ender's Game as the book for you. Much more focus on the military aspects of combat. In some ways your concepts of military tactics and strategy reminds me of a Specialist 4 in a military course I took at a joint operations facility- he focused on guns and bullets and things that go boom. Unfortunately, his primary plan he proposed involved shelling the enemy airfield from battleships stationed off the coast; while at the same time dropping airborne troops on to the airfield to sieze it and landing C-141's on the same airfield to unload supplies on the airfield which our navy would be hypothetically be bombing.