(1) NO MORE SUBSCRIPTION - become free to play
This sort of speaks for itself.
Pros: there would no longer be a need to pay a monthly subscription. We would pay our initial game installation fee and then play as much as we like, as often as we like.
Cons: Less income for you. This is true - however, your number crunchers could undoubtedly come up with ways to supplement your income on the one hand, and forever wipe away the majority of nuisance and threat of gold farmers. You make certain aspects of the game paid - we want that fancy mount, that beautiful staff, that top piece of tier gear, that very useful enchant recipe? - we buy it from the appropriate vendor for gold. And we buy gold from the in-game gold vendor for a very reasonable charge.
A free-to-pay system would, on the one hand, make all the subscribers very happy, and bring in/back a whole raft of casual players who are happy not to have that regular fee on their card, and may not need to pay for all the extra things you need to buy.
(2) UPGRADE THE GRAPHICS
With games like Guild Wars now available, and the upcoming Elders Scrolls Online, with their stunning graphics, WoW is starting to look even more and more outdated. Its practically cheesy.
Pros: It would be a far more attractive game to play and a much more satisfying game experience.
Cons: Loss of a proportion of players using older and slower PCs and laptops. Also, the cost in revamping the game would be exhorbitant.
I know this one is iffy. I don't even know if it could be done. The alternative is to create a brand new game, with new state-of-the-art graphics, which would also allow them to implement a whole raft of changes to the style of play. It could be the same type of game as WoW, perhaps on a new world with many of the same races and lore. WoW as it stands would no longer be patched and would be maintained for a certain period of time until the new game started paying for itself, and then would be phased out. You could perhaps arrange to transfer characters over to the new game, in some form. I don't know if this is the answer, but I just don't know how long you can continue to tinker and fiddle with WoW as it is and maintain your position.
(3) MORE CREATIVE PLAYER OPTIONS
Your answer to providing more game options for players is to introduce more dailies. I can't tell you how tedious this can get, especially for any of us Altaholics out there. There has to be something else that players can do beyond dailies, instances and raids. How about letting us build things? Let us make our own small village, with a house and maybe a professions hub, a tavern, a farm, something we build and improve and spend time on. Give us ways to adjust the game experience in some way. Make more areas of the game non-flying (yes, I can hear all the screams out there, but for me I found having to explore Pandaria on the ground was much more fun and interesting than just flying over it). It wouldn't be obligatory to enter these no-fly zones, but perhaps there is some particular achievement or mini-game (ala the sunflower pet) or whatever that could be done there. (My ultimate dream is a variable instance - ie, an instance that changes every time you go in, with different mobs, bosses, shifting passageways, hidden traps and tricks you have to figure out, etc. Is this likely to happen? No, probably not I hear you say. But it would be way cool.)
Pros: A much more fun game.
Cons Probably take more servers. Thats fine, combine some of the low population servers and use them.
Anyhow, thanks for listening, Blizzard. Or not. A girl can dream.....(-:
Yours in gaming,