In the episode The Best of Both Worlds, Part II an admiral says that the Enterprise has bought them valuable time so that they can amass a large fleet at Wolf 359.
Wolf 359 is 7.795 light years away from Earth. That is a HUGE distance. Even at high warp it is hours of travel. Even one Borg drone on Earth would have been a crippling blow to the Federation.
I know the fleet could set an intercept course for whatever path the cube took but since the fleet is composed of ships with different maximum speeds they would have to choose between travelling at the speed of the slowest ships or spreading out.
I would think to guarantee contact with the Borg the fleet would need to defend a much smaller area or at least spread out a bit.
A fleet of ships over 7 light years from Earth is a speck that you would pretty much have to aim for to encounter. Was the Federation brass really depending on that for the defence of their home world?
I can see why the Borg did it, they knew they were so powerful they could fight the fleet and they were all in one place so why not pass by there. But it seemed to me to be a foolish way to deploy the fleet.