PSP is a "Paint" program not a painting program. And it was Jasc that started the emphasis on photos not Corel.
A crop tool that let's us grab and drag the edges not just the nodes.
The ability to sample a color point from the image into the curves tool.
Improved vector support, I happen to know for a fact that our vectors have many of the same values as the SVG format so we should be able to import more than a bitmap rendering of the SVG file. We should also have the ability to save to an SVG.
Better vector tools. Vectors, while powerful, are still very weak in PSP. I don't expect a lot but the ability to change properties quickly would be a huge plus. We somewhat have that if we select the pen tool and select our vector but we don't have that same thing for text. If we want to change text we have to go in and highlight it which can actually get in the way of what we are designing.
The ability to curve out an edge by shift clicking on it and dragging. Right now we have to right-click on both nodes that the line is connected to and curve one before and one after to get a single curve.
More of the standard combining options for vectors. Right now we have merge and merge cutout as scripts but these don't really cover all that is possible in other areas. For example a boolean cutout. Or a difference combination.
Some layout option such as snapping to the edge of the canvas or snapping to object centers while dragging. The alignment commands are great but I would like a more dynamic option if possible.
Alignment commands for regular raster data. Right now most of the alignment is for vector.objects only. And I can just make my own using scripts but I think they should be but in.
An Undo option in the text tool. It is very easy, was even easier in X3, to hit a key while your text is highlighted. Mistakes like that, especially if you have a lot of text, is very annoying. To be able to get that back with just a express would be invaluable.
A textbox option for dynamic word wrapping.
A blending tool for regular colors not just art media.
Either text boxes or labels on all sliders for those of us who like to know exactly where we are. Invaluable for photographers, photo editors, and graphic artists alike.
A minimize button on the tabbed view to go straight into windowed mode to finally seamlessly integrate these two preferred ways of working. The menu option to switch them is too clunky.
Some sort of gradient tool. Right now going back and forth between the material.dialog just to see.how.different directions look or how often they repeat is very tedious, especially for vectors which are what I use gradient for mostly other than masking.
The ability to merge layers onto masks. Right now if you merge a mask with anything it just becomes a regular raster layer. But I would like to be able to take my drawings or an image and directly merge it into the mask beneath it. The current method of defloating a selection of creating a special mask to merge with the old one is just a bit awkward.
If not that then the ability to make a mask from the current layer not just the whole image.
The ability to view the mask itself on the image specifically. The ruby-lithe overlay is nice but sometimes it's just not as effective as being able to see what you're doing when you're editing the mask.
I would still like variable line width for vectors but I can understand how that would be hard.
Smart-objects - big one for me here. Raster deformations are just too destructive, we need a good way to preserve quality of raster objects and smart-objects are a great way to do it. And I'm just asking for preservation of quality. If you wanted to get really crazy with it you could do what Photoshop does and allow for effects to be changed and re-applied to smart-objects. But I figured I'd start small.

De-fringing options for the object extractor. I won't lie, when it first came out in X3 I had a laugh about it because it was bragged that the object extractor was maintaining the small hairs on the giraffe's chin. Problem was it was also maintaining the sky around the hairs as well. The Object extractor is a useful tool but without a de-fringing or de-mixing option it just doesn't always do the job very well. I do like it and I do use it, but sparingly.
Can we please move the crop options out of the general preference dialog? Seriously, they have no influence anywhere but with the crop tool it makes no sense for them to be there when there is more than enough room on the tool options palette. I've proven it.
I'd like to see the icons for the various layer properties moved underneath the layer name. As it is right now the icons fully over-write the layer name making naming the layer a pointless en-devour. Link the layer, add layer styles, do some blend ranges and lock the transparency and what do you have? Too many icons on the same line as the layer name when we have more than enough space at the bottom of the layer list display item. This will also allow you to place the link set number next to the link set icon for quick visual reference of which layers are linked to each other. Which is something else I want.

Also improve Brightness/Contrast filter. Right now it's as bad as Photoshop's used to be. It's a destructive command that clips shadows and highlights. The best way to deal with this is how Photoshop addressed this problem in CS3, anchor the shadows and highlights and focus on the mid-tones. I'm not saying that the old method is not useful but it's a terribly destructive method that could be so much better.