(... and just to throw it in, if they were making a novel into a movie, I think Peter David's Vendetta would have been a way better Borg movie than First Contact, too!)
Oh Christ, no!
I just finished reading
Vendetta for the first time since I was a little kid. I love Peter David's stuff, but this one was just awful. Sure, it's got lots of neat fanwanky interconnectivity to TOS, but it just reads like a bad episode script translated to prose.
Shelby doesn't do anything but roll her eyes and wish she were back on the Enterprise, Korsmo is an ego-maniacal blowhard with no sense of perspective or priorities, Picard spends the first half the book a horny, distracted idiot and the Rhianon subplot doesn't really do much to make the subplot itself worthwhile -- and continues the tiring cliche of Geordi being absoltuely pathetic with women.
Some of the cameos are nice -- seeing Pulaski again, Shelby ... but I wouldn't want to see this adapted as a film.
If you want to adapt a Peter David novel to film (and I'd certainly start with him if you're going to mine the novels) I'd suggest
Q-Squared or perhaps the first
Imzadi. Both were epic tales and
Q-Squared especially seems ripe for the big screen.