What would I like to see... hmm.
I'm like something a little lighter and more slender. The Nook Classic has kind of that bulky "first generation" look at this point. I like the overall form factor in terms of screen size and the white plastic, but thinner would be much better.
I may be the only person on earth who likes the little LCD screen for viewing covers; I don't mind if they keep that, but touch screen is cool, too, I guess. As long as they keep the physical page turning buttons - I wouldn't want to lose those.
I do agree with wymore that a $99 price point is what they should be going for - it'd be a huge deal to undercut Amazon's $114 KWA (or KWSO or whatever they're calling it).
Having said that, will I buy the new nook? Probably not right away; maybe never.

Between my NC and my Pocketbook 360, I almost never use my Nook Classic anymore. I still love it, though.