Characters:
T3-M4
HK-47
Bastila Shan (Dark side)
Canderous Ordo (Dark side)
Jedi Exile (Light side)
Revan (Light side)
Carth Onasi
Atton Rand (female player)
Mira (male player)
Planets:
Coruscant (I still can't believe that you can't visit the main planet of star wars universe in KotOR 1 and 2!)
Ruins of Taris
Nar Shaddaa
Deralia (it is possible that this planet is Revan's homeworld)
Mandalore
Korriban
Alderaan
Chommell Minor
Naboo
Geonosis
Storyline:
I hope the main character to start as a survivor from Taris who managed to break through the Sith quarantine and escaped to Coruscant. The character was forced to become a thief because his homeworld was destroyed and he was left without his family who where killed during the Sith's orbital bombardment. One day character hears a rumor that a woman named Jedi Exile discovered that Revan is still alive somewhere in the Outer Rim. When character finds out that man who to his opinion is responsible for Taris destruction still walks alive, he goes totally mad and begins to look for Exile, Carth, Bastila and others who might have some information about Revans location.
Later it's found out that main character is gifted with the Force and if character is Dark side Bastila Shan trains him as Sith Apprentice or if he is Light side Mira or Atton (depending on character's gender) train him as Jedi Padawan.
When character finally finds Revan he realizes that Revan isn't responsible for Taris'es destruction and may choose to help Revan fight the True Sith or threathen Revan and try to kill him but unsuccessfully because in the end Revan flees, later destroy the True Sith then become their Dark Lord and stand to the final battle against Revan, again unsuccessfully because almost before death Revan unleashes at character his full Force potential and thorns him apart. Revan escapes from planet thinking that he destroyed the True Sith once and for all but it the end it becomes clear that main character isn’t dead. Like Darth Sion he uses his anger to keep his body together.
Gameplay:
Better graphic engine.
New combat system.
NO CRASHES!
Much bigger maps.
No prestige classes because I think that for example Sith Lord isn't equal to Sith Assassin and it is not logical that you can choose them both being at same level. They should create some class multilevel system where you can upgrade your class from Jedi Padawan to Jedi then to Jedi Knight and to Jedi Master (and maybe to Jedi Lord
. I heard that are Jedi Lords in star wars universe.) or from Sith Apprentice to Sith Assassin then to Sith Marauder then to Sith Lord and finally to True Sith Lord.
Other:
I really wish that Bioware would make the game because to me the first KotOR will always be better than Sith Lords.