MorphOS could need some minor improvements in Ambient imo, but i think after the G5 Port the Devs should focus on bringing some badly needed software to MorphOS like OpenOffice, VPN Client, a nice and fully equipped soundplayer (equalizer and sound enhancement) and other things.
I think after that they could integrate multiprocessing in the way Andreas_Wolf was talking about (video encoding/decoding), if thats possible in ABox.

Regarding Ambient, i'd like to see a string gadget in the browser mode, where i can enter the path to a file directly and a search string.
Ambient settings integrated in the system settings.
system friendly HotBorder functionality
real Screen Dragging
2GB Ram support for 32bit machines
a few more eyecandy 3d effects (i.e. open/close window) :)