But if a Federation President is from Bolarus, it DOES imply that Bolarus is a very well-integrated Federation Member, rather than being one whose populace doesn't interact much with the rest of the Federation.
Well, people are always going to toss the "not canon" argument at that one.
But DS9's "Paradise Lost" showed a Bolian as canonical Commandant of Starfleet Academy. How likely is it that a representative of a non-UFP member race would achieve that post?
http://en.memory-alpha.org/wiki/Unnamed_Starfleet_Academy_personnel#Academy_commandant