I think that a transwarp hub should be set up somewhere close to each faction's home system to allow quicker access to specific sectors. The Captains' Table would be a great place for this, as it is accessible from both areas. You would think that this long after the breakthrough of slipstream drive the Feds would have a transwarp network in place for all major sector blocks.
For the captain's table to actually work like it did in the books. It's not a big starbase in a space-time pocket. It's a crappy hardwood pub that has a "wandering door". It even showed up on the bridge of the Titanic once. The door to the place should wander about a bit on Qo'nos and ESD and sometimes other places, and it should only be seen by LTS or 400-day.
Captain's telling stories from races we haven't seen yet would be neat. Sneak preview upcoming enemy models there.
Make it something special, where you can buy special items like Cryo-grenades and stuff. There have to be missions, maybe you could sell blue and purple items only, and for ALL ranks, and cheaper prices too. But first of all, make it easy accessable with a transwarp. Because when you can get there with one button, people will show up, I guarantee it. and not only a transwarp to there, but transwarps FROM there to all the major points, like an important crossroad to other places...
For the rest free drinks ofcourse, lol, and whatever idea you wanna work out there, make it a hit please, we need a place like that....
As it's The Captains Table, where time has no meaning, make sure we see some familiar faces round the Dabo table. The TNG crew, for example, as we know they like their poker so I imagine they might have a bit of a gamble. And being able to smoke-bomb Wesley Crusher would be awesome.
In summary, Dabo table, TNG crew, smoke bombs (purchasable from the bar).