I would like to see:
1) Slots to equip weapons cosmetically ... I mean, Sambrog's club has great stats and all, but c'mon
2) The ability to completely change character appearance at the barber, including skin tone, eye color, build, etc. ... Sometimes after you play a character a while you realize that the pasty white "vampire" skin tone just doesn't fit.
3) More of the unique housing items, like the swan fountain, available at the Lotro Store
4) More "realistic" (as opposed to fantasy) armor available, including some with a more "oriental" look (Hey, I got it off a dead Easterling near the Sea of Rhun)