Personally I want:
Mounted Combat, including Horse Archery.
Mount to Mount combat
A jousting tournament.
Add the Imperial Legion back in as a Guild.
More Weapons.
The ability to download PC mods on the 360 ( I know it wont hapen but, hey I can wish)
Larger game map that includes two or more provinces.
Ability to import you're own face into the game.
More customization on characters.
Maybe another race.
When you become a guild master you get more benefits, like being able to assighn your people jobs to go do.
Children need to be in the game to make it more realistic.
You can buy and sell almost any property, including stores.
After you buy a store the orriginal owner works for you and you make money from sales.
More Pirates!
Way more Dark Brotherhood quests.
This is mine, ill probably add more later.