For me, some of the productivity and workflow issues that need attention would be CoronaMultiMap inconsistencies fixes and a new seed parameter, a fix for glossy reflections through glass and object space anisotropy (I hoped this one would make it for 1.0). Next would be texture baking, it's simply a must. Revised displacement and faster SSS are nice, sure... but the missing stuff should be on this list somewhere, too.
Regarding the lowered costs or a new license version - both sound good to me. I'd actually pay for an additional low-end license for my home laptop without having to get a full featured version.
Looks like EUE was great this year, I really hope I can make it next time.
Edit
On second thought, it's admittedly very hard to cover all the needs within the short time from the release of 1.0 to 1.1, it's just not possible to make all of us happy, at least we have a roadmap to look at :) Keep up the good work!