wish list
-more named equipment and more "usable by" equipment. For example Jolee's robes and Mira's Balistic Mesh Jacket respectively. The "usable by" items should be worth using for more than just the intro level. Atton's jacket sat in my inventory for ninety percent of my game. Perhaps an upgrade option aside from just the standard overlay, underlay, weapon upgrades. As for named items, I think it is really neat to see a recognized name when you pick up an item.
-character creation history. Rather then wasting a conversation opportunity talking about previous games take a couple minutes to enter in pertinent details at the start and have them alter parts of the game.
-choice of party members. Playing my dark side character I wanted nothing more than to turn Mira into a killing machine and punish her conscience. But I got the wookie. This could tie in to the above point as well. If you choose the exile to be dark side then there would be no returnies from kotor II. but if he was lightside you would. a big part is the option of turning away party members. I hate G0-T0 and never wanted him.
-influence. I think the influence idea was great but it could use a little continuity (the Atton thing already mentioned). As well all non-droids should be able to become Jedi, or training should be scrapped altogether. At the very least there should be a good reason to talk to the non-converts. I always got influence with T3 but never G0-T0, Kreia, Visas, I don't really talk to Hanharr much either. And I only ever heard mandalore's voice when I had to.
-light vs dark. Siding with the republic shouldn't automatically be the lightside approach. in fact I would like to see that toned down as I will describe in my plot synopsis. Killing shouldn't be the only path to the darkside either.
-lightsabres. Fisrt off I want to start with a damn lightsabre. If they insist on having us hunt for lightsabre parts perhaps they can make it interesting by making that lightsabre you put together be custom with some personal things. Definately happy with the personal crystal idea. As far as form goes you should have to be committed in your style. You were equally good with all forms in KOTOR II. I think that you should be able to use all of them but you can put feat spots into mastering them once they are learned, perhaps have a new level up option so you can choose which forms to learn and which to focus on. I also want a great lightsabre!
-more variety in force powers. It's not that I was dissappointed with the amount of powers I am just greedy and want more. The lightside force enlightenment is a cool power concept. Perhaps more things like that, or somethign totally new. Revitalize is my favorite power! or it would be if my party ever died.
-pazaak. I love this game. I want different cards and more of them! Greatest game ever! more chance to play for stuff and more opportunity to buy cards would rule
-tougher battles. Well that is not exactly right, more challenge at the end and less at the start. I barely get through mercs in the Ithorian compound but I cut through traya like butter.
-The jedi council to survive the whole game!!!!
-an option to save a main villain that actually works
-plot synopsis. You are a jedi at an enclave (probably Dantooine for plot reasons) and there is a disturbance that you are sent to investigate. The search leads you to the old star map cave where the force focus of the area allows you to receive an apparition from the outher rims saying that there is an attack from the true sith mounting in the ouer rims (based on your choices for Revan, the Exile at character creation this could come from one/both of them or if both are dark side, the force ghosts of the dead council from KotOR II) and that you should visit important spots in the life of each Revan and the Exile to find the key to finding your way to the outer rim. You alert the new Jedi council (consisting of Jollee, Visas, The Handmaiden/Disciple (based on Exiles sex), and optionally Bastilla (based on Revan's alignment, replacable by Juhanni) ther are other familiar Jedi based on the choice of The exiles dark or lightness ie Mira/Baodur) and they send you to the unknown world/starforge and Malachor to find clues. At this point they introduce your new character to Admiral Onasi, who gives you a ship to travel in. It is Conveniently the Ebon Hawk and conveniently comes with an astromech droid (T3-M4) and you are allowed to choose one jedi from the academy to accompany you. Dark or Lightsidedness will affect the clues you find and where you start in the outer rim. Which is where you go next. These clues will come from the spirits of Malak/Bastilla (if she isn't on the council) and Sion/Kreia depending on light or darkness. The clues lead you to Korriban or Dxun (either I can't decide) where you use the temple of Freedon Nadd or Exar Kun to open a gate to the outer rim. On your travel you can meet other companions who are also looking for Revan and the Exile. It is possible that they have since taken on students themselves or have other such helpers to recruit, or they can come themselves. Once there you come face to face with the true struggle of light and dark. You meet any combination of Revan/Exile/new Sithlord/Forgotten Jedi hero(who was just corrupted if both Revan and Exile are lightside). Your journey in the outer rims completing various goals (not all the same) for whichever side you are on. It is prudent to note now that once you choose a side, you can't switch. Details of the planet are up to the designers. Upon completing you are informed that you must return to Dantooine where you will explore a new part of the planet to confront the escaped dark lords (or champions of light who have retreated to warn the republic) Epic battle ensues, game over lots of old an new faces (forces ghost are wonderful and I would say this is epic enough to justify so many, it is the existence of the galaxy you are fighting for) you win galaxy saved or destroyed. If you save the galaxy there are at least half an hour of cutscenes where all the loose ends are tied up. If you are dark side, many cutscenes of death and destruction where familiar faces meet their fate and all that. Best Ending to me would be if you are light and Revan and Exile are dark and you ACTUALLY SAVE THEM!!!
so ya that's Kotor III in my imagination

Without the light there can be no dark. Without the dark there can be no light. Even the most devout Jedi Master needs the dark side. The most evil Sith still needs the light.