Hello all, just found this site and thread so I thought I'd share this.
I have created an updated Federation Space game with new counters and races, a new rule book and charts and map. As noted, I made several changes to the original map (such as adding the Cardassians, Talerians and Tzenkethi from TNG) but everything else is built off of the original game, rules and counters. I originally also added a number of TNG ships with an eye towards incorporating them as "X Ships" but in the end I decided not to go there; the counters are focused more on "standard" SFB ships. I left a ton of stuff "open" (different variations of ship types and such) to allow players to use what they want and ignore what they don't want.
Overall, it is simply a variant; players can take what they wish and discard the rest. The best part of it, IMHO, is the corrections to the ship factors. The Coalition now has a chance to win, which was impossible in the original game (outside of severe incompetence by the Alliance player).
Anyway, it's all posted under "Lyran Space 2.0" at BoardgameGeek, Consimworld and the Fed Space Yahoo Group (there is a copy of the original game there as well although the person that did that one renamed several planets and added the Nexus updates to the counters).
Any comments, concerns, and/or feedback is always appreciated.
On a somewhat related note, I also provided new Fleet Charts for the original Federation Space game that use the updated counters from Lyran Space 2.0. There are a few recommendations to help balance the game but players may take and use from it what they wish.