Personally, I always had hoped that there would have been a peace between the Romulans and Federation, though the reboot movie put a nail in that coffin forever. It seemed that they were moving that direction between Spock going to Romulus, the Federation-Romulan alliance during the Dominion war, and the friendly overtures of Donatra to Picard, during the battle with the Scimitar. It is unfortunate we didn't get at least one more TNG movie before the reboot because I think it would have been possible to end the TNG era with a peace between the Romulans and Federation.
In Star Trek Online, that mostly happens. Sela took over at one point, so that threw things off for a bit, but with the destruction of Romulus the Empire all but fell apart, and many of the colonies banded together to create the Romulan Republic. Even though they are the good guys now, they are still Romulan enough to play both sides of the Feddie-Klingon war.