From BlenderWiki

Disclaimer: A lot of the topics listed below are not even work in progress yet, so don't get too excited.

[edit] Interface

• Outliner
  • More access to all properties
• Layer Manager
  • Much more robust (see patch?)
• Sane layout and naming for UI controls and menus
• Custom bindings for keys/toolbars/menus/buttons
• Drag and drop everywhere
• Font preview/selection tools (patch exists)
• More obvious plugin and scripts folder access
• Allow platform native file dialog
• Better i18n support (UTF-8 and BIDI)

[edit] SDS Modeling

• NGons
• Nondestructive editing/workflow
• Procedural primitives?
• Modifier nodes
• ShrinkWrap modifier (GSoC)

[edit] Sculpting

• Higher polycounts
• Editable base mesh (SoC)

[edit] Retopologizing

• See Topogun
• See Zbrush

[edit] NURBS

• Finish NURBS library

[edit] UV-unwrapping

• Standard editmesh tools available for UV editing

[edit] Texturing

• Painting
  • Mirroring
  • Multiple Undo (done in Apricot branch)
  • More robust and unified paint system (in other words different paint modes should be consistent with each other)
• Image based
• Procedural
• Projection painting
• Node texture system

[edit] Rigging

• Spline IK
• Asset transfer

[edit] Weighting

[edit] Animating

• Option of Euler rotations input/visualization for all input locations that use quats
• Fix Z rotation glitch that happens at 360 degrees for curves
• Everything Keyable
• Retargeting of animation data to other assets/asset transfer
• Motion capture tools
• NLA System rethink

[edit] Particles

[edit] Hard Body Physics

[edit] Soft Body Physics

[edit] Cloth

[edit] Fluids

• Integration of control of fluids via particles.

[edit] Rendering

• BVH partitioning
• Lightcuts (GSoC)
• Freestyle (GSoC)
• Volumetrics (being developed)
• Zeroconfiguration automatic addition of rendernodes
• Renderer API

[edit] Compositing

[edit] Sequencer/Non Linear Editing

[edit] Color Correction

[edit] Import/Export

• Full Collada support
• Full FBX support
• Full pointcache support

[edit] Game Engine

• Allow other game engines to be 'pluggable'

[edit] Sound

• Upgrade sound (SoC)

[edit] Digital Asset Management Integration

• SVN
• MySQL?

[edit] Python scripting

• Improving Python Editing (GSoC)