How about something set not long after First Contact?
Starting about 5 years after First Contact has been made, we could see the rebuilding of Earth after WWIII. The Post-Atomic Horrors, Vulcans guiding humanity, Cochrane working on a new warpdrive, humanity's first gentle steps into outer space, Earth slowly becoming a global community.
No big SFX neccesary, which means lower budget. And that does seem to be a big factor right now, budget. And even though it wouldn't bem much a Trek through the Stars, it can be a good vehicle for telling the kind of stories that actually make Star Trek.