I would like wordpress to have following features which as per me will make it more potent blogging/CMS software
1) Common category linking to multiple parents. For eg child categories like Electronics, Books which are common and can be purchased from both Delhi and Mumbai which are for eg. Parent categories. So Delhi can also have Electronics sub category and Mumbai can also have Electronics sub category. So rather than creating two separate sub category in each child the option should be available in wordpress to link these common sub categories to multiple parent.
2) Category Widget should support auto population of child/sub categories basis the customer selection of parent category. For eg. Country is the main category and each country has multiple cities as its sub categories. So widget should have this configuration that whenever customer chooses a country from main category then the child/sub category should auto populate the sub categories with cities related to country choosen in main category.
3) In general setting the wordpress should give a option to enter url of theme folder which can be common for multiple wordpress installation. This feature is require mainly for testing on localhost. Currently I've to copy the themes files everytime I develop a new website in new installation folder.