Seems like when OS 4 was first talked about, Apple mentioned something about organizing your apps differently. That's what I've been looking forward to since the first iPhone came out. I think some form of multi-tasking is inevitable, but scrolling through 4 pages of apps to find the one I'm looking for is very inefficient. Hoping there is a way to put your apps in folders, or groups, based on categories of my choosing. Then hopefully, by combining that with multi-tasking, if I'm in an app and need to select another it will be that much easier.
Also would like to be able to customize the home screen, icon size, etc..get tired of the black background.
Someone mentioned custom SMS alerts...that's on my list too.