Are we talking about a complete re-imagining here, or just a remake a la Door to Phantomile?
I assumed it was the latter but everyone's talking like it's the former. I guess it doesn't matter.
Personally I'd just like to see updated graphics and improved animations. I think the story is fine as it is, maybe cutscenes could be grander, but that goes with the graphics/animation. The addition of a few more bonus features like costumes and such would be neat too, I guess.
Honestly, there isn't a whole lot about the game that I would want changed, though.