I think it was Ron Moore who said that by doing Yesterday's Enterprise, they blew their best chance at a possible Generations story. But from a writer's point of view, they probably wouldn't have done it as the 24th century was not the 'real' TNG characters from the show. It was, after all, supposed to be a TNG movie. That's like having one of the TOS movies set entirely in the Mirror Univserse: The fanboy in me would have loved that, but it's just not a realistic option for a Trek movie.
That being said, it's an awesome edit.