Oh man, things I'd love to see?
Basic Figures:
-Resculpt Boromir (FOTR) with super articulation and cloth cape
-Orc Swordsman (Minis Tirrith)
-Orc Pikeman (Minis Tirith)
-Orc Archer (Minis Tirith)
-Gondorian Soldier (Removable Helmet)
-Gondorian Ranger Resculpt (Neutral headsculpt)
-Gondorian Ranger Variant (Faramir's Lt./older guy)
-Uruk Hai Swordsman/Pikeman (Comes with both weapons)
-Re-release of 1st Orc Warrior Figure (Too damn hard to find)
-Orc Scout (Mordor Tower)
-Orc Warrior (Mordor Tower)
-Ring Destruction Frodo (Removable finger)
-Ring Destruction Sam
-Army of the Dead Soldier (variants perhaps too?)
-Orc Standard Barer
-Gondorian Royal Guard
-Rohirrim Militia (Civilian armed/Helm's Deep) Young
-Rohirrim Militia (same as above) Older
-Berzerker Uruk Hai with removable arrows and fuse/torch
-Dunderling Warrior (Head/accessory variants)
Deluxe/Beasts:
-Orc General (Minis Tirrith) w/Warg ride
-Nazgul Rider (with Witchking and regular Ringwraiths)
-Rohirrim Soldier (New head) with horse
-Gondorian Soldier (New Head) with horse (Ride to Osgilliath)
-Gondorian Ranger (New head) with horse
-Oliphant with Rider/Driver (Sure it's gonna be huge but I agree, it'd be great... Even if it wasn't articulated! Look at the 1:6 scale tanks put out, I think an Oliphant is possible)
-King Theoden with horse
-Eowyn/Pippin with horse
-Eagle
Deluxe Weapons:
-Orc Seige Tower (If we're getting an Oliphant...? ya know?)
-Orc Catapult
-Gondor Trebuchet
-Uruk Hai Balista
-Uruk Hai Battering Ram (Includes 4 Uruk Hai with Ram)
And I'll tell ya what, I could go for figure after figure that we don't see in the films but who were in the books... The mongul-like riders that the Rohirrim fought at Minis Tirrith... The backup Rohan and Gondorian forces... The pirates (We saw them, but only briefly)... The Elven forces lead to Minis Tirrith by Elrond's sons... Elrond's sons... Elrond from Minis Tirrith...
I could go for ALL of this stuff. Hell, even Dwarf troops, though they're not in LOTR at all, just to have them though.