This is more a wish list than anything. Some things I realize are more plausible than others. But, there are things that could add realism to the game that I would like to see. Most won't probably happen, but this is what I would have in my perfect MMO:
Large heaps of customizability in everything. If I want to dye my fur boots (uggs) pink, dont stop me. If I want to design a logo for my armor chest piece a la Black Ops Emblem or Halo style, let me. (don't judge me) Player housing. Guild Housing. Open World PvP with safe zones in cities. (If solo, you can only get attacked by players 4 levels lower or 4 levels higher. If grouping, the average level of the group within 5 levels of the average of the other group. Smaller groups get a slight buff based on how much they are outnumbered. And both sides have to agree to fight.)
Marriage. To girls, guys, cats, lizards, sweetrolls, whatever you fancy. Professions. Taverns. Tavern games. Realistic weather changes. Combat that has good hit detection. Effective Damage for quicker skirmishes in PVP and PVE. No more launching 50 arrows and spells to kill one troll (probably while hiding on a rock you jumped that it can't somehow climb) when you shouldnt have been messin with it in the first place. Ability to choose your religious deity. Divines. Daedra. Ancient Heros. Whatever. Have something magical happen. Enough prayers, give me a blessing. Allow me to shoot holy lighting from the Lost Arc with my holy hands and melt faces off of nazis ( in this game, lets call them Gangkers)
Also, instead of the standard guilds (Fighter, Mages, Thieves, Dark Brotherhood, Gladiator) maybe branch to "guilds" that are in conflict with these common guilds. Like a Mercanary group that doesnt follow the code of conduct the fighters guild does. Necromancy Guild, sworn enemies of Mages Guild. Maybe a unit that is like a guard/detective unit that hunts thieves guild members. Or a Pirates Guild. like the thieves guild, but you kill the crap out of people and shirts and shoes are optional. Thow your allegiance to a noble House or Liege. This way there can be rivalries outside of the race vs race and faction vs faction.
Finally... 1st person. I WANT TO SEE MY HANDS. I have them, I should see them. Specially if I want to max my hand to hand combat skills.
/end ramble
What are you guys thinking? What you would like to see to make this game "realistic"? Or realistic to the lore/fantasy world anyway.