I was thinking for some time, that anything to get people away from their computers and back into the lounge would be a winner.
The ability to add a USB webcam perched on my TV and Skype to reletives on the other side of the world.
Skype preferred, but I can see Apple forcing us down some awful iChat / FaceTime route.
Some sort of Facebook functionality, or interaction. So I can pick iPhoto abums to share with relatives who also have a new iTV.
Don't need the ability to send / receive email, but a little popup in the corner (like in Entourage) with the subject line when I get new mail.
I suppose an App Store will open up whole new avenues.