I really can't see what more could
have been done with the Romulans. There was no story there, not even the beginnings of a story, nothing to grab our interest: Romulans have not appeared for a long time, then they do appear, and this is supposed to be a mysterious cliffhanger so they can't tell us anything
about why either thing is.
So it ends up being fundamentally uninteresting, because it starts out
devoid of elements of interest. Nobody does anything relevant, nobody says anything relevant, there are no characters involved (just talking heads with or even without names)... The Z plot with the Romulans ends up being nothing but a vehicle to show off Probert's newest cool starship design.
The A plot was fine and well, but did suffer from being forcibly integrated to the Z plot in the end, with Offenhouse "contributing" (and making Troi wonderfully redundant once again). How about using the Ferengi instead, to give Offenhouse a task he would be uniquely competent at? Hey, they could even have settled the "Betazoids are no good with the Ferengi - or are they?" issue there rather elegantly.