The first one on the list is a big one. 3G technology is where we're going. WiMax is where we're eventually headed , but for now, 3G chips should become standard in the US, and the iPhone should follow suit. Furthermore, the applications would run much smoother - mobile YouTube might even be able to run a few more videos.
Adding mobile iChat would be another huge feature for the iPhone. As mobile broadband steps up, mobile video conferencing would become possible.
Adding push email to the iPhone would help with enterprise solutions. Businesses might even pick it up as the primary work tool, as its features overshadow RIM's Blackberry or Palm's Treo.
There are others on that list, all of which would vastly improve the second generation iPhone.
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