Hmmm. I have a few things I would like to say:
Plot
-Tie Fable 1 and 2 together.
-Terasa=Good intentions bad motives
-For Christ's sake, bring back Jack of Blades! I will sell my left testicle if they do this[sub][sub][sub]Actually I won't[/sub][/sub][/sub]
-Explain why your character will start poor (inevitable), espcially if he is the descendant of your painfully rich Fable 2 character.
-a little less non-linear. Don't reck it, but a little open endedness never killed anybody.
Character Mechanics
-Get rid of the fucking dog. This is an M rated game, it's time to start acting like it.
-Better clothing, armour, ect.
-Bring back plate mail! Fuck the setting, that stuff was awsome.
-Make it easier to gain/lose weight. I found that once you were fat, you were fat permanently.
-Make your characters appearance change more. Like the demon thing on the cover of Fable 2, I want to see that if I am 100% evil, 100% corrupt.
Weapons
-Even more augments
-Even more weapons
-Better legendary weapons? Maybe not all of them, but a good portion should be buffed.
-Bring back the old magic system. The way it works now, magic is way to over powered, and they dropped almost all the good spells.
-At the same time, don't nerf magic
Enemies
-More enemies, more often.
-More Balverines, I loved those basterds
-Maybe enemies that level up as you do? so as you get stronger they get stronger too?
Game World
-I like the degree of established towns, as well as the established areas. Maybe Oakfield could be made bigger? I don't know.
-What happened to Avo and Scorn? They were much better than "Light and Dark". Maybe bring them back as a cult?
-On the similar note, make the religions less black and white. The light side was always righteous, always loved, while the darkside was always evil, always hated. I could write that.
-Real time development. For example, they say if you commit crimes it brings down the economy. I want to see that: If I walk into bowerstone and rob everything from a store, the place goes otu of business, and the economy starts to go down. As crime rises and rises, the city should start to look more and more like a slum, with citizens acting accordingly.
-More Demon Doors!. Preferably more challenging Demon doors too. I did like the little areas behind them though.
-Less comic relief. It doesn't have to be all gritty fantasy horror, but come on, it was bording rediculous, especialy in the crucible.
-More side quests.
That is just a short list I may or may not expand on.