1. I would like Beth to make TES V for an advlt audience. I want them to do an inspirational exercise every morning whereupon they all chant: "stuff the kids! stuff the kids!". After all, the only thing guaranteed to make kids want a game more than designing it for kids, is designing it for advlts...
The rest of my top wants have been covered somewhat, and it's good to see that a lot of people are on the same page.
2. A bigger, more believable world. Whatever setting they choose, it must be a vibrant, fully functional place before the player ever steps foot into it. For the most part, the player should have the impression that the world does not revolve around them, and if they die, that world will keep on turning just fine. This encompasses economics, politics and religion at the top end of the spectrum, and npc personality and dialogue at the bottom. Levelling at all points of the spectrum!
3. Freedom of career choice. This encompasses two parts. Firstly, every quest should be designed from at least 4 vantage points: Combat (magic) combat (non-magic), stealth and diplomacy. Everything in the game should be intuitively doable using each of those basic approaches. Secondly, there should be enough to do in the game world to keep unorthodox characters busy. Traders, miners, fishermen, healers etc. Nail the second request on my list and suddenly warriors and battlemages won't be the only desirable characters to play... Morrowind got close to cracking this. Oblivion choked on it.
4. Completely overhauled combat. TES combat is monotonous and boring. Always has been. It's time to add tactical flexibilty other than "hit enemy until dead, drink potion as necessary". This includes overhauling the magic and conventional combat systems, as well as making sure that enemies have a decent selection of options and the brains to use them. Epic enemies should be epic. Pull another Mannimarco stunt and i won't be a happy chappy. TES games have always had a scientific approach to magic, and this is a VERY good thing. Keep the formulaic style, just add a lot more variables to it. It is magic after all, and completely within the realm of imagination. If it can be imagined and if it can be made to fit within the scientific system without too much of an implausible explanation, put it in. Make it so that a novice of any given weapon doesn't wield it exactly the same as a master does. Include all-encompassing fighting styles that have pros and cons for each weapon type. In short, bring back the chess factor. A battle should be like a good game of chess, and the player should feel like they've accomplished something significant at the end of a particularly good battle.
5. Will think about 5. Edit: Having given it some thought, i have to kick myself for not thinking of it earlier, especially when i've argued for it many times previously. I could have actually bumped this further up the list, but anyway. I want Beth to include an options page. A master list full of on/off buttons, sliders and drop down lists where the player can customise the myriad of small game features to their preference.
Player must eat: on/off
Player must sleep: on/off
Fast travel: on/off
Time scale: slider
NPC routines: drop down list
Traders open 24 hours: on/off
Traders instant restock: on/off
Traders instant repair time: on/off
Player encumbrance effects: drop down
Player environmental effects: on/off
etc
etc
ad infinitum
So many of the things that get argued about in this place are a) stupid, and B) easily fixed with an options page...