My votes:

- HDMI output
- Bluetooth HID support out of the box (kb/mouse)
- Bigger battery (I think 1800mah would be perfect)
- Slightly bigger device would suit me (though probably not most); bigger kb, slightly bigger screen, couple hardware buttons to bring up the task switcher / home screen
- Simultaneous 802.11/bluetooth support (it can be done)
- 512mb rootfs / 512mb ram
- SD instead of microSD
- Keep the resistive touchscreen! Multitouch/capacitive is for bored yuppies.
- Cradle connector, offering HDMI output, charging, audio in/out, USB host... imagine dropping it in a cradle with an LCD screen, keyboard and mouse set up. It would be totally adequate as an HTPC, kitchen computer, alarm clock, etc.
- A pony would be nice, too.

Ok, and the following is probably not even remotely realistic, but imagine running all the cooling conduits to the docking connector, so while the phone is docked, it can upclock the processor to 1+ghz, and dump excess heat into the cradle (which has a heat sink).

That would make it a fairly powerful laptop, perfect for travelling (cradle could be small.. kept at the hotel). Or, go to work, drop it in a cradle, and get a full-size screen / kb / mouse. Get home, drop it in a cradle.. watch some movies. Bluetooth in some game controllers, and play some games. In the car... cradle. GPS navigate, listen to music, etc.

Ok, I'm dreamin.

*EDIT* at the risk of almost going offtopic here.. A remote heat sink would actually be pretty easy to implement with a peltier device; even though the metal-metal contact wouldn't be great, a 5mm x 1cm pad could probably transfer out enough heat from inside the device if it was cooled to 30C below ambient with a peltier device. If it needs to remove 5W, the unit would draw, say, 20W, but even that is still around laptop territory. Point is, this could totally work.