Based off the earlier entrants in this thread I've made my own list of 5 wanted features:

1. Archery (as suggested by earlier entrants);
2. Mounts/taming (including canoes as suggested by Ptah);
3. Crafting (reduce mouse clicks, more fun process as suggested by MrDDT, ability to terraform totem spot);
4. Faster switching of weapons/tools (as suggested by earlier entrants);
5. Functional housing (merchant tents as suggested by Eyesgood).