Also, a campaign where you can choose your own difficulty, yet some levels are still harder than others. Getting to use two abilities (Cloak and Katana would be beastly) at the same time instead of just one.
Yeah, sort of like Halo, only when you finish on higher difficulties, you get different endings (or more content).
I was kind of hoping to see something like a co-op campaign, if they're going to do multiplayer.
Also, I was surprised at a credit system but no rank system. It would all be based off of how many credits you have earned overall, I guess sort of like Halo Reach. I haven't played that game much to know how it works, though.
I actually support less guns - seven guns are a pain to handle, not to mention that most of the smaller ones never get used. If you limit to two held, and make the bigger/stronger weapons more sparse, it might work. I liked how you could choose what weapons you could use, though. Perhaps it could work sort of like that again.
Also, interactive environment would be cool. The waterfalls were nice effects, but in terms of you being able to react with the environment, Raze 1 had more (Disposal, with the boxes that would fall and kill you). I think it would be cool to have some more explosive stuff, like explosive boxes sitting around that you could shoot and they would blow up.
Map editor. Yeah, yeah, everyone says the same thing :P
That's all that comes to mind right now.