At last, someone who agrees with me! I was very unpleasantly surprised when I saw this movie for the first time during a TNG-movie marathon at a cinema a couple of years ago. I shared my thoughts on it on another site, but didn't get much positive response; as you will see, our thoughts are very similar:
"I never liked episodes that features distorted timelines et.al., as they mostly use the element of time to create whatever scenario they want without having to bother with explanations. Therefore one can imagine my great disappointment when it in the beginning of First Contact turns out that the Borg has time travel technology.
Come again? Time travel technology which they for some reason only use as a last resort to get away from Enterprise AND at the same time to assimilate Earth one day before humanity makes first contact with the Vulcans.
This plot alone is not very intelligent, but it's the best we get in this mess; because the rest is basically the rest of the crew trying to convince this alcoholic dimwit that they have to fly his ship as planned(?). The scenery is nice, but why the film makers decided to depict Cochrane and Co. as some hillbillies in a Mad Max-style commune - which, a part from the first space ship that can transcend light speed, only houses a giant jukebox and some bar stools - is beyond me.
Meanwhile, Picard spends an eternity on a Borg infected Enterprise, going from the identical room to the next, either executing assimilated crewmen or tinkering with some circuits.
The Borg queen starts out as an interesting villain, but rather quickly descends to something all too human. The interaction with her and Data is at first quite intriguing, but after a while it seems pointless. It doesn't seem plausible that Data can be converted to a human; and I fail to see the ultimate purpose behind it.
As a long time fan of the series it's heartbreaking to see one of the most enigmatic and iconic villains in sci-fi history be portrayed as something which not correspond with earlier characterizations. Being able to destroy the Borg cube so easily, the Borg queens human like persona and their (new found) ability to travel in time are all things that frankly disrespects what the series established.
It sure looks good, especially the animations in space and the interior of the Enterprise. They also really made an extraordinary effort with the make-up and costumes. The music and sound effects are also of high quality.
However, it's neither convincing, captivating nor, in the end, very entertaining."
Indeed, the Borg Queen as a sex maniac! I mean, as we've seen only a small portion of her upper body is partly made of flesh, the rest is one hundred percent borg technology. What did they put down there? An electronic vagina? Yeah, that's believable? And as we've seen after the flesh dissolving thing, even the fleshy part contains a great deal of metal. I doubt Shylock could have found his pound of flesh there!