I would like to see another entry into the Planescape series, or at the very least a new IP. I must admit that I am much younger than most of the members here, but playing Torment has entranced me with its weirdness and clever writing. I want to play an rpg that will surprise me as much as Torment. While I would like a new Planescape game, I'm pretty much asking for something different from the usual parade of Tolkienesque fantasy.
Personally, graphics are never a problem, so I don't care if its made in the Infinity Engine or worse as long as it has a unique art style, a strong story, and clever writing.