Bah, the Borg was a kickass villain up to Best of Both Worlds, when they still adapted to everything, were still a collective mind instead of that crap hive mind, still didn't have any stupid queen and just stormed through fleets of federation vessels as if they were nothing but pathethic insects.
The simple fact that Voyager (a goddamned tiny scout ship, for Christ's sake!) survived that many encounters with the Borg (one encounter was almost fatal to the Enterprise, a full-blown Galaxy Class, which would kick Voyager's ass all the way through the damned delta quadrant) is a statement to the sheer incompetence of the Star Trek writers, and the fact that they are somehow able to transform one of the coolest sci-fi villains ever (I considered the Borg to be on the same level as SHODAN) into one of the crappiest villains ever is further proof of that.
The Borg doesn't have queens.
The Borg only has cubes.
The Borg will adapt to anything.
The Borg will kick federation's ass.
That's the Borg I like, I refuse to consider anything past BoBW, specially Voyager. And yes, that excludes First Contact.