I'd totally forgotten about the Caeliar's refusal to use time travel. It's been years since I read it, my apologies. And I don't remember much about Troi's pregnancy, other than it being my least favourite part of the trilogy.
But Picard breaking down at the end? I can buy that. The Borg had hung over him like a spectre for 15 or so years, and he'd been forced to face them in several situations just prior to Destiny, and confront his own past with them directly in Resistance. Plus, he felt the tendrils of the Caeliar gestalt as they dissolved the last of his implants, which seemed to have a similar mushy effect on Seven. I found the scene quite profound.