A story should be top notch. If you have a choice system, then each possible branch/combination should work as an amazing story with differing consequences (I'm looking at you inFAMOUS, with your rail-road plot that doesn't care what I choose!).
Also, every gameplay system should be implemented to near perfection. If there's a plan to have a 5 minute vehicle section in a 12 hour game, rather than shoddily implement it, just make the damn thing a cutscene! Nobody bought Mass Effect to play as Tank Commander shepherd, like noone bought Gears of War to drive some stupid UV buggy. Spend the time polishing the main game engine, since that's what people care about.
An exception to that is ofcourse things that are supposed to feel like crappy minigames, like the Bike event in Final Fantasy 7, that shows up later on as an arcade game. Or "Hero Klungo Saves Teh Worldssssss!" in Banjo Kazooie N&B.
Following on the gameplay one, if an idea doesn't work then it should be scrapped or changed radically to make it work. FF5's job System was excellent, FF6's esper system was a touch of genius, FF8's function system...you could see how it was meant to work, but it was just...awkward really, they should have gone back on that and tweaked it a bit.
I also think that graphics should always be stylised consistently. And it should be done in a way that looks good. If a game is meant to be photorealistic but ends up looking like turd, then maybe it should have been done in a more cartoony style? Where defects can be a good thing and so on.