I have played all of the DS games, and DS1 was by far the best. I thouroughly enjoyed the ability to freelance class without restriction, the massive number of spells that were available, the 8-player over 4-player support, the POSSIBILITY to PvP if you desired, (balanced or not, it was a good change of pace sometimes), creative weapons like flamethrowers and miniguns that in some way change the standard mean of fighting, the large beastiary of enemies, and just the sheer magnitude of the world giving lots of uncharted territory to explore and epic-sized battles for 8 people to swashbuckle their way through. We had many LAN parties back in the day with 8 of us just playing for 8+ hours. Then DS2 came out. We tried, but nobody had any fun. Everyone was just too powerful too fast with limit-break-style moves and just sheer badassery of characters. And since in DS2 everyone had to choose their path and had a select skill-tree it became very boring knowing exactly what you had ahead of you instead of building your way up upon the discovery of new spells and equipment. Both games did, however provide a wide variety of equipment, which was fantastic. I just hope to see this game much, much more similar to DS1 in the fact that they bring back a higher number of players to play cooperatively, have some sort of PvP available, and get rid of classes again. I was always excited when I would level up a certain discipline to see my new "earned class" rather than have chosen and being stuck with it since the beginning.
To break it down one more time:
Things I would like to see
-PvP
-No classes
-Tons of spells
-Huge worlds and overwhelming numbers of enemies for 8 people to take on
Things I would NOT like to see
-Small player support
-Boring classes with only around 20 skills
-Lack of modding
-Generic RPG gameplay with no innovations or creativity
Make a game that can give itself a name, not borrow ideas from everyone elses. DS1 did exactly that with freelance classing. That is all.