500gb to 1tb of storage space, support for 2560x1600/2560x1440, cheaper peripherals (i don't give a shit if my console costs an extra $20, stop charging me so much for a fucking controller), OPTIONAL digital distribution that doesn't suck (Microsoft want to charge more for a DD copy of a game than my local shop, despite the lack of middle men and packaging - LOLNO), backwards compatibility and no more of this bullshit '$10 extra to play this used game kthnx' and add another button or 2 to the face of the controller. Maybe put 'Z' button in the middle of the A,B,X,Y.
If the next generation of consoles tries to stop used game sales in any way, i'll be a PC only gamer.
Honestly, refresh the current hardware with some higher clock speeds and more ram (blu-ray in the case of the 360), redesign the controllers and drop the cost to push games onto the consoles so that we actually have GOOD games getting made these days and i'll happily buy it.