Definitely excited for GTA V. I loved GTA IV, and Rockstar did great at their first current gen version, but now that we're further along, they should be able to harness more power from the systems available and turn it into a truly amazing experience.
Things I hope they fix from GTA IV:
On foot controls are a bit wonky at times. Realistic, but occasionally frustrating. Jumping over fences and up onto ledges isn't nearly as exciting as it should be, either. I really want my character to feel agile. Not Ezio Auditore status or anything, but I want the rolling dodge to be actually worth my time, and I don't want to feel like I'm going to get a million bullet holes in my back while he slowly creeps over a fence.
Can't go into nearly as many buildings as they made it sound like you'd be able to. Sure everything was seamless and there were no loading screens for going into new areas, but still.
They took away all of the sweet cheatcodes! No pedestrian weapons, riots, making everyone dress like Elvis, or any other of the really fun stuff. Hopefully it makes a comeback.
Multiplayer was great, but it could use some improvement, particularly in the area of getting into and out of games. Pulling out the phone only to get shot/punched/run over and have it disappear was annoying.
I would say planes, but evidently they are coming back. Awesome.
You guys have any ideas of what you want to see happen in GTA V?