The Things that I would most likely want in the next update would be
1. fog or something of the sort so that the cellwall doesn't look so rigid.
2. Get rid of the savefile look on the games, emulators, apps menus for something better... or atleast speed up the movement through them in the next version. Also fix for the bug where It lists apps, etc. more than once if you have more than one path set for nexgen to search(on mine that happened even though their weren't 2 copies of the actual xbe)
3. How about an option to select the speed you want the main menu to rotate at or perhaps a constant decent speed and a very fast speed when you hold down l(like in evox)
4. A way to set a path to other music such as mp3's
5. Personally I think that names of the partitions when you ftp over to you xbox through evox are annoying.. how about an option to just have them set as drive letters optionally.
6. Progress bar for dvd2hdd..(other people have requested it so i'll go with them)
7. Xbox status page showing temperatures, space left on hdd partitions, lock/unlocked status of hdd, etc. etc.
8. Also a music control interface.. nothing really fancy but 3d would be a nice touch.
9. The ability to give names to custom name's to xbe's but only on nexgen.. nothing like actually changing the xbe.(just an idea)
10. File manager that works with all partitions.
I'll come up with more as I come across them.