Guntz should be made into an optional playable character after beating the extra vision. His game play should be that of a 2D shooter, as such he would probably need enemies that can take a little more punishment, perhaps some unique enemies, bosses and stages.
Collecting 150 dream stones in any level unlocks that level's hard mode, in which your given 3 hit points rather than the standard 6, Klonoa's wind bullet has VERY little range, all enemies actively try to attack you, and Guntz is given limited ammo that can only be recovered by breaking checkpoint clocks. Beating them slowly but surely unlocks concept art and promotional images and such for this and some from the previous games; getting 150 dream stones on the hard modes does the same thing. Beating all of them for one of them unlocks alternate costumes for that character; getting 150 dream stones does the same thing. Fully completing all hard modes for one character unlocks a final vision for that character each with there own super boss, getting 150 dream stones on that gives you ULTIMATE BRAGGING RIGHTS.
Beating that unlocks a "music box" from which you may listen to each of the games tunes. As well as allowing you to customize difficulty: hit points can be changed to be anywhere from 1 to 10, you can change the range on Klonoa's wind bullet from being barely past the ring to "Klonoa Wii range" and changing Guntz's settings regarding ammo ranging from unlimited to no ammo recovery(which would require him to have a secondary means of attack so that your not totally screwed for bosses). These settings are available from the start on any subsequent playthroughs.
And finally the wind ring should be given more utility, bringing back the sword is nice but I was thinking also allowing it to pull and push objects from a distance as well as being used like a grappling hook.
*whew* Got all that out of my system.