These are my suggestions that i think would benefit everyone without angering anyone and would be very easy to implement:
PvE Fame
NO, this has nothing to do with the fame you get in tournaments and is more akin to Guild Ladder. I'm talking about an official PvE Ladder where you can see who are the richest players, who are the most experienced players of any given class, who is the biggest spender, who is the best
survivor having the smallest XP/death ratio.
I want to be able to be famous for my PvE-ing, and would imagine so does everybody else.
All the information required for this is already in your character databases, all you need is to sort and present it to the world.
Skill/attribute range display
When you unlock a skill it give you a floating window with the skill/attribute range (the green stuff

It's a minor cosmetic change that can only help and in no way hinder and I'm sure everybody out there has at least once, at some point spent refund points just to see how a skill scales. That is not the point of refunds and granted, doing it once or twice is OK, when you're experimenting with builds and mess around with a lot of skills it's nice to know without spending all your refunds.
Cosmetic Shop
Give us the possibility to change the appearance of our character after character creation. Make it expensive as hell, but give us the possibility.
I realize there's a lot of work on this one such as setting up a new "merchant" to handle it, tying it in with the character databases but it's something that saves us the work of remaking a character because I decided that the ponytail would look better.
Make the PvP Xtreme rewards permanent
The differences between PvE and PvP are many. But the major difference that HURTS is the poor skill and item acquisition rate by means of PvP. For first Tournament wins you get 36 faction (20 from win plus 2*8 for each enemy player killed) and for all subsequent kills 56 faction (40 from win plus 2*8 for each enemy player killed). You guys do the math on how many wins it would take to unlock just one normal 1000 faction cost skill and how much time that would take. Now compare this to how much time it would take a PvE character to get a skill point (even after reaching the 20K XP cap) and I'm not even going to mention the XP u can get form FoW and UW quests...
Also rewards for wins in the competitive (random) arenas should be much higher than they are. Compare going into a team arena with a TEAM and winning to going into the competitive arena with for total strangers to form a team which is almost always severely unbalanced... the team with a monk having a HUGE advantage over the one without.
I sure hope this weekend was a field test for the new system and if it's not, MAKE it the new system.
Remove the stupid, worthless, absurd unspent faction cap
Oh and I just remembered... What on earth were you thinking when u capped the unspent faction you can have at 10K??? This is a mistake pure and simple, MISTAKE. I looked at my faction Friday night at i had 8 or so thousand, I look at it sunday night after making over 40 Fame and it's at 10 thousand. That is a waste of my time and effort... The cap was never announced anywhere, no mention of it on the official site, nothing.
BAD Arena.net, go fix it ASAP.