What a marvelous story! And I like that you didn't go the route so often assumed--that they definitely did meet during the Time War, she being the President and all. A bit of mystery in Who is exactly what it needs.

10 out of 10 stars.

Have you checked out the BBC's classic Doctor Who page? Check out some of the webcasts. Romana did return, before the Time War, and met Doctor 8. Wouldn't they make a grand couple? Of course they would...
But there's more... Read the e-book Lungbarrow. Our Romana is Lady President, and Seven runs smack dab into her... OK, not much partnering there...

Romana's the one in power, I do believe, during the Time War.
But it's up to you how you see canon.

I liked this story, although I have a minor nitpick. You have a couple of 'on' that should be 'one' I think. "She’s the brilliant on and he’s the experienced on." is the line. Not to say that I'm not faving this because of it, Because it's rather brilliant, all told. I just thought you might want that pointed out so you could fix it.

Aw!