I like the idea of a series of mini-series about concepts that would quickly wear thin if it had to happen for 7 seasons. Plus, because you're only with the characters for a couple of hours you can make the events that happen to them the most important of their lives.

Have one about a medical ship. Set one on a federation-made space station. Do a Section 31 one. Have one on post-war Cardassia where all the different races covertly struggle for influence (like early West Germany). Do one with the court system (maybe an ambitious prosecutor trying to bring down the New Sydney syndicates). Use the mini-series to flesh out and explore aspects of Federation life that haven't been seen before.

Or, more likely, have Rick Berman make his pet concept Star Trek: Intergalatic Pole Dancers XXX.*

*Warning: Minor Foul Language

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When I die I want to go peacefully in my sleep, like my grandfather. Not screaming in terror, like his passengers.