There are some very valid points in the last posts, I"d like to comment about:
Monster variety: I played D&D for 21 years, pretty much with the same people and one of the things we really love, is fitting the most weird monsters in our adventures. Goblins, bugbears, ogres have their place as usual, but I can tell you that the monster manual is big enough to amaze even the most veteran players in most adventures.
There is no need to go out of the way, campaigns must mantain a certain feeling to them, but be them random encounters or dungeon end bosses, rare monsters spice up stories a lot more than the usual "dragon in the lair".
Since monsters can scale just as players, why limit yourself to lvl 1 snakes and lvl 20 golems+lichs? It"s possible to scale down (or up) most monsters, give a theme feeling to a campaign and still produce kickass content.
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I"m still sold on levelling, and not so hot on skill-based system (ala UO so to say), because in the end all these things are just a skin you lay on character progression and I like the levels more. What I don"t really like is the constant +10 level for each expansion, it doesn"t make sense to me, but I guess it"s the lazy way out to have people consume the oh-so-cool levelling content.
Taking for example WotLK: what about having major questlines give new spells/skills as reward, thus "forcing" people to do them? Damn, you saved Undercity, good job pal, learn this new spell and enjoy it for the days to come.
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Classes: I can"t wait for a non-asian MMO to implement the job system. I"d really like to keep playing one character, but I"m quite an altoholic, yet it pisses me off to no end that I"m losing all I got with my previous char. The same deal for professions: why the hell I must be limited to 2 professions and thus forced to level a new character to raise 2 more?
I understand the need for devs to promote replayability, but I can guarantee that a truckload of players would feel more compelled in levelling all classes/professions on a single character, rather than rerolling new ones over and over.
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Gear: can we get rid of constant upgrades at this insane rhythm? Equipment should be meaningful, not just a stepping stone towards the next piece which I"ll obtain in two weeks top. Sidegrades are boring, period. Let me upgrade my own gear through quests, crafting and whatnot, doesn"t have to be every 20 minutes nor 12 months, but relying on something that is just not RNG would be an extremely good thing.
Maybe many players wouldn"t be that cool with this, but I think an upgraded Thunderfury (for example) to be on your character all the time, would have been a good thing. It doesn"t have to be the best sword, it just needs to be exactly as good as the best weapon available once fully upgraded, so there is an alternative for players who missed the MC days, but the old school ones could still keep a TF if they wish so (and new players can go get one if they really want to).
Epic quests: yeah, goddamn epic quests ala EQ1 (just a bit less camping and more epic oriented, please). Coupled with the upgradable weapon feature, this could be something extremely cool to have. No bindings of the windseeker please (or however they were named).
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Class quests: one every 10 levels, at the very least, don"t be lazy, amaze us. I want to feel like I"m progressing in my career, gaining ranks in my order so to say, there is no better thing than class quests at that.
WoW was so cool at the beginning as a druid, bear form quest, poison cleansing, aquatic form... then devs probably got too lazy and just stuck spells on trainers, including cat form (for which I totally expected a quest).
As a rogue it was even worse: I was sent into this hidden cove in the mountains and pretty much nothing came out of it but maybe a stupid new item and a broken quest chain? (can"t remember really).
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Mentoring: single handedly the best feature I"ve ever used in a MMO (EQ2). The fact I could at any moment, scale down to play with a friend or to help lowbies doing a dungeon while mantaining it interesting, was just nothing short of awesome.
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I think I rambled about pretty much everything now, sorry for the wall of text.