Logically, the Federation should have the fastest tech level increases with the way their society is structured. The cooperation of over 150 species in all aspects of science, tech, and everything else in life is really quite a sight to behold from a long term perspective.
When you see the time traveler from the future in VOY that came back in the tiny shuttle craft, it single handedly had enough power to take out Voyager with it's Subatomic Disruptor. If Janeway didn't overload Braxton's emitter by matching Voyager's shield frequency with Aeon's disruptor, they would've been dead very fast from a futuristic shuttle.
So what does that say about tech progression, 1 little shuttle is enough power to take out Voyager if it hadn't figured out a technobabble solution to counter the shuttle's weapon system.
The Federation will still be around in the future, and it will have time travel capabilities.
The Federation is always coming up with new tech and integrating some of the newer stuff.
In the recent novels, they start mass producing Quantum Slipstream drives for the initial batch of new ships.
The Romulans steal the Prometheus Class because it's so powerful that it can take out a Romulan D'deridex class with so little effort.
Before the USS Enterprise-D had plenty of trouble dealing with just 1 of them a few years earlier.
This says alot about Starfleet putting it's talent on tech and making effective offensive / defensive ships.