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288 pages, Mass Market Paperback
First published July 3, 2001
The current incarnation of Romana, now president of Gallifrey, has no redeeming qualities. She is vain and arrogant (like the original played by Mary Tamm), but a cold, calculating politician. Her interaction with the Doctor in the story is actually fairly limited; but she feels no affection whatsoever toward him.
I believe many reviewers have noted this--the hero of the story is the TARDIS. Prefiguring the new series episode "The Doctor's Wife" but actually taking its theme further (while not presenting the TARDIS as a woman), the novel suggests the TARDIS intelligence loves the Doctor and would put itself to a great deal of suffering to save him.
The novel is poorly edited, with a few embarrassing typos; and the writing is just okay. For one thing, the book is full of not gratuitous pop-culture references (only a few, thankfully) but gratuitous restatements of famous lines from the original series.
Gallifrey faces not one but two enemies: Faction Paradox, and an unidentified "Enemy" the Time Lords have been preparing for with the handicap of knowing nothing about. The Enemy are revealed to be a race of extremely powerful alien organisms from outside the universe, believed to be the ancestors of all life therein.
Gallifrey's defeat is indirectly caused by what is essentially an accident. The Time Lords have a miniature universe in a bottle, which they had apparently stolen from someone else (in some previous novel) intending to use the miniature universe as an emergency bolthole from their unidentified Enemy. The bottle gets broken, and the energy released from it disturbs the Enemy (I have no idea why), who release an unstoppable energy wave that brutally destroys large numbers of people, crippling Gallifrey (already under siege by a fifth column of Faction Paradox-allied Gallifreyans) and allowing Faction Paradox to win the war.
Different authors have interpreted the Time Lords in different ways, but these authors' depiction of Gallifrey is implausible and inappropriate. In order to shoehorn their social criticism into a story it doesn't naturally belong in, the authors depict Gallifrey as having a highly pollutive industrial sector and rampant poverty and homelessness. That's absurd unless viewed as one of the time distortions caused by the Edifice: a society so advanced as to control time travel can't fulfill material needs and can't function without heavy industry?