I liked a lot of stuff about KOTOR 1 and 2. Having my decisions affect the what happens in the game was realy cool, as was being able to battle a lot of enemies at once. I have high hopes for KOTOR 3, so I realy hope that whoever is devoloping it reads this post.
Graphics: Too many games concentrate on making things look realy detailed. For #3 I would rather have realy cool looking backgrounds rendered in real time than an ultra detailed character model and static picture for a background. A good example of how cool this looks can be seen in Alan Wake below. I want to feel like Im somewhere epic and huge, having a picture for a skybox is just ugly and outdated.
Combat: For gameplay I'd love to go "Darth Vader" on someone and fling random heavy objects at them. I would also like to force shove enemies off a cliff, or rip the weapons out of their hands. In terms of visuals It would be awesome to be able to cut some guys hand off, or even decapitate them. Have a wall be blasted to rubble, cooler death animations, and just make combat seem more destructive. In most games the only thing lasers, bullets, or whatever seems to affect is enemies, you could blast a small plant all you want but the damn thing is invincible. In Kotor 3 I want that plant to burn to a crisp.
Lightsabers: For lightsaber battles Id love to see something that looks like it might be from a movie (not the cr@!!y prequels though). As in actual choreographed moves, guys parrying, hitting, and dodgin in-sync, instead of just looking like they are fighting entirely other people that you cant see.
Whishes: I don't think these will get put in even if every member of the dev team reads this post and thinks its great, but I can dream right?
First up, how about a full on, online pod-racing game like Episode 1 Racer? I loved that game and think an updated version with online play would rock!
Pazaak Online anyone? Maybe linked to the racing thing. You could earn credits by winning races in pod-racing to ugrade you pod, and you could also win credits by betting in multplayer games of Pazaak.
Campaign Multiplayer would rule! I have no idea how it would be possible, but something like co-op would be realy cool.