Custom Health, Hunger,(Should be really easy ^_^) and Fatigue[Exhaustion]You walk slower the more your exhausted. Party system. Really nice PVP Experience and I mean a REALLY balanced remake of PVP. Custom Mod health and damage? Advanced Physics? Iron armor naturally lows you down? Ability to miss hits from monsters and players? Localization! MySQL Support?
Check out the thread so far, not done yet, but it's got some stuff. Advancement will contain (from what you've suggested) level restrictions, classes, skills (which can be magic skills -- there's no difference really), reeeaaaaly extensive PvP/Combat remake, health, hunger, fatigue, shiny party/chat system.
Advanced physics would be really cool, not top priority, but you get points for an awesome idea. :P
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