I second the stealth-vape nomination. 'Bling' is nice, but too many PV mods are hopelessly shiny. Shiny things are nice for crows, fish, and folks who like to look cool in clubs (well, the ones where they tolerate vaping). Sometimes a very plain PV is what you need because you don't want to draw attantion to it. So, if there's going to be a bling-ish approach, how about the option for a non-bling-ish one.
Other wish-list items:
A decent button. Please, NOT on the END of the unit. Low profile if possible. (And, we have to get used to the idea that a specialty button like that is going to cost the manufacturer a lot more than some off-the-shelf switch; that's going to boost the cost of the PV.) If it's to be a slim sort of e-cig: the design of the 510 button strikes me as damn-near perfect.
The battery is problematic. If you want really long battery life (e.g., longer even than the Totally Wicked 'megabatteries' for the 510?), you have to put up with something large enough to take the kind of battery that goes into the Little Chuck, right? (If not -- what kind of battery would it be? Is there some long/slim battery with really good staying-power?)
Cartridges that don't leak. I like the 801 for the amount of juice its carts hold, but I have had tons of problems with that one because of carts leaking all over the place.
Carts that fit. I've had no problems with the 510 except for one small batch of non-Joye atomizers that I got from Innovapor; Joye carts just fell out of those. (Fortunately, I didn't buy many of those atomizers from Innovapor.) But I've had all kinds of problems with 801 carts of one 'vintage' not fitting properly on 801 atomizers of some other 'vintage'.
Quality control equalling or exceeding the QC you get with the Joye 510. Again, 801 problems: I've had manual 801 passthroughs that failed; manual 801 batteries that failed; 801 batteries of one 'vintage' that didn't mate properly with 801 atomizers of another 'vintage'.
Adjustable airflow would be nice. There are a couple of battery mods that offer this, but the feature is limited to certain atomizers. (Would this mean that the 'ideal' PV would have to come with some entirely new style of atomizer?)
Decent documentation. Newbie after newbie runs afoul of the new-atomizer-taste-is-terrible problem (so did I). Come on, manufacturers: you can make better documentation, including information about how to break in new atomizers. (Most engineers/techie types have to be dragged kicking and screaming into producing better documentation, or spending the money to have someone else write and produce it. Typical e-cig documentation is bloody-awful.)
And the big one for me -- and probably not easily do-able -- some kind of 'feed' system for e-liquid so that the bloody cart doesn't have to be constantly topped up. Surely there must be some way to do this.
The upcoming Ploom -- a complete unknown so far -- might well make being in the e-cig business an interesting thing for manufacturers in China. But then, manufacturers in China are nothing if not extremely smart and energetic -- and competitive. Wonder if there'll be Ploom-like devices coming out of China, eventually.