I am sending you a list of features i would really be happy if you added them.
1. Backwards compatability. I know this seems like a nobrainer, but the last gen didnt start with it and while some added it others took some of it away (I am looking at you Sony!). So just get with it, cause i know i will be much more quick to upgrade if i dont have to keep my old system plugged in just to bang out a few old games now and again.
2. All games need a functional screenshot/video capture and upload system. Now i know this will be more on the developers of the games, but you need to push this and make it as easy as possible. Many of this gen games can do it, so you dern well should be able to as well. Not all of us are cool enough to get a good setup to capture video.
3. Easy to upgrade on our own hard drives. Sony got it right, so goddamnit Microsoft, you better follow suit. Im not spending that much on HD space for a console EVER again!
4. More split screen multiplayer. While i love online multiplayer, sometimes its just more fun to sit 4 wide on a couch and trash talk each other in person. Or in my case, playing with my kids. Again, i know this falls on to developers more than hardware, but this thing isnt just about the hardware, its about the whole next gen.
5. Do not go all digital. I like my boxes, i love filling my shelf space with games. Its how i decorate my area and i would be very sad to not be able to show off my collection without turning on my system. I know as a developer and whatnot, losing the physical aspect of the games saves you money but cmon… Video gaming is about crazy box art, even crazier manuals, and above all else. Special Editions! (More Decorations!)
Thats pretty much it for me. Im sure you will have better sound/graphics/bells and whistles coveres for me. This is just the little things i would like to see.