Probably Portal 2. Portal is an incredible game, but all the time I was playing it I was thinking "You know, this feels like an experiment" (pun not intended). It was such, such an awesome game, one of my favourite of all time, but it still just felt like a taster for something even more epic.
Theres so many great machanics you could add to Portal. Take the Portal gun, add everyday guns and you got some fucking awesome combat. What about changing the Portals size, so that when an object is put in one Portal it comes out the other one a different size. Portal with water? What would would happen if you put a Portal under water, made a really small portal, then placed it on the wall. It would create a jet.
Portal Multiplayer anyone? That would be fucking epic. Take away normal normal weapons in deathmatch which causes people to be creative about there murder, using the enviroment and portals to take them out (bombs, cubes and turrets could be scattered around). What about races in Portal? Or tag? Or capture the Companion Cube?
Story is about the only point where I really don't have any ideas. That's up to Valve, and I hope they could create something just as clever and hilarious.
I'm very excited for Episode 3, it's true. But mostly just because I want to see how it all ends (if it does). But I know it's just going to be more of the same. Thats certainly not a bad thing but still.