1. Some graphic updates. I'd like to see trees that don't look like paper cutouts snapped together.
2. More customizable characters. And by this I don't mean a small selection of additional hairstyles nabbed from other races, but I want to change my character's weight and maybe eye color.
3. Quests with plot. I don't want to run around grabbing animal parts, but I that doesn't mean riding around in a vehicle and chopping off tree limbs is any more enjoyable. I love really long quest chains with fascinating plots.
4. More cut scenes.
5. New races that start at level 55. The Death Knight class to me wasn't as exciting as the races in Burning Crusade. Perhaps if we'd had two epic classes that would have seemed more even. But since Blizzard doesn't want people spending all their time leveling so they can experience more of the endgame content, starting the new races at level 55 would be the way to go.