Razeus, I stole your list to make some points, hope you don't mind?
Video camera and recording - If the quality is like that shown on the keynote, it'll be great. Especially being able to upload it to youtube, mobileme etc in a push of a button.
3MP camera with auto focus, auto exposure, auto white balance, macro-mode - Better pictures obviously. Auto focus will enable apps such as ShopSavvy to work (which is a great little app if you've never tried it on a G1) Macro mode will be usefull.
Larger capacity - Obvious again, the more space the better! No need to trim your collection as much for your iPhone.
Compass - Should improve maps a LOT. Also since it knows the direction you are pointing, could open up all sorts of possibilities for apps! Imagine a city guide, that can tell you what you are looking at and tell you more details/information!
Faster CPU - will speed up the general use of the device and maybe enable more CPU intensive games to run. Though by having 3GS only apps, they may alienate 3G/1st Users.
More RAM - As above. Very useful if you plan to jailbreak(should it be possible!) and want to use backgrounder.
Voice Control - Sounds more of a gimmick to me, will impress your mates/family
7.2Mbps 3G speeds - Excellent it available, don't hold your breath if you are on o2 and not in London though!
improved battery life - Big plus in my opinion! My 3G rarely makes it through a day of heavy use.
new screen to reduce oil and finger prints - less fingerprints?! Sounds very good to me! Where's my cloth for wiping my 3G again!?