They should've done what Berman wanted, and waited until DS9 was finished before doing VOY. By then, they'd have CGI right from the start instead of models and other shows of a similar nature (LEXX, Farscape) would've already begun to show to the Producers to say "See, this is what we want to do!".
I have no problem with a smaller cast focus. I mean, TOS was all about Kirk, Spock and McCoy and no one cared.
The internal tensions wouldn't have lasted more than a season or a season and a half, especially given how the whole point of the Maquis/Fed conflict was no longer present and neither truly hated the other to continue the conflict.
A major problem was the show not really having a plot beyond "Going Home". It really should have had one. An external plot, I mean.