I know some of these are on the roadmap. But if so, I hope it helps as user feedback for dev priorities.
* Blogs (my biggest feature request. keep wanting to goto k2, but am waiting for the first out of yourselves and Tuiyo. Thinking its going to be you ;)
* Groups (with unlimited nested categories. I want to have, USA > California > San Francisco > La Honda
* Groups module for listing group categories
* Integration with other comments systems. I use JComments. The reason for this is for consistency within the site, so all comments works the same.
* Adding Youtube clips to be able to be played to Story Updates / status
* Links in Story Updates / status to be linkable
* Like and Dislike
* Ability for users to turn of the tabs like Relationship and Personal if they like. #suggestions