Hello, I bought both games (Kotor I & II) only 2 month ago and played them both. Even though I liked them, they did (imho) not reach the level of games like Baldur's Gate or Planescape:Torment. Personally I blame the market because I think the pressure on companies like Obsidian is much too high.
More than any other category, rpgs need alot of creativity, patience and love ... or in other words ... time. And time costs money. Both Kotor games had imho more potential than they showed.
First thing I would change is the number of party members, even a party of 4 would be a great improvement.
You should be able to choose whether someone can come with you or not. I.e. I HATE Goto and I'd risk to blow up my ship just to get rid of it.
Many dialogue *options* are not really options. Sometimes you get to choose from 3 different responses but they all have the same effect. Why? And please remove dialogue options once they are used, it is silly to say the same things over and over and over.
There should be more interaction between the player and the npc companions. You should be able to change their alignment to a certain degree and they should have more mpact on the world and story. For example leave or betray the player.
The npc companions should have a bigger part in the story, like Bastila in part I. Bastila is by far the most real npc in both games, which makes her the most interesting character besides the player. They should have more and larger side quests which even lead into the main quest and maybe even change the possible ending.
Add more details. Random conversations, funny scenes that have nothing to do with anything, make us laugh or shake our heads in disbelief. Add more life. And more love.
I could sum up everything I mentioned above in one sentence: Kotor III should be more like Baldur's Gate.
In Kotor III I would like to have several questions answered that the other two left open. So I think the player should neither be Revan nor the Exile but a new character. Maybe an apprentice of the Exile or Revan. I would like to meet everyone from Kotor I & II and learn how everyone would have fared if I wasn't Revan or the Exile. Who fell in love with whom or even not, What sex did the main characters really have and were they good or evil or neither. Such things.