As for what I'd like to see in a code update, such as a version 2.0:
Score balancing. Make difficult songs worth more. Make easy songs worth less. Make album modes worth more, especially completion bonus.
Do something cool with Slash Solo. I don't think it should be stacked since its a unique mode and should be played as such. It should be worth more points and should add to song level, especially during the victory laps. I saw GnR live and was second row back standing right in front of Slash doing his solo and it was awesome. The crowd was fired up. That mode should boost the song level up a good amount. Rather than it being limited to 60 seconds, I'd like to be able to extend the solo by hitting victory lap shots. It's a shame to have to trap up and time it out when I care about points.
Make sure Band Frenzy is possible in every song. Some songs I'm waiting for a band member shot to light and it never seems to and I cant get a Band Frenzy going. For example, Patience doesn't seem to show drums or keyboards. I have gotten Band Frenzy before with some patches and luck, but other times even with patches I get stuck waiting on one thing that doesn't come up.
Add a short ball save for when a ball is released from the guitar lock. I hate when the ball releases and bounces weird and goes SDTM, especially when its in single ball play.
Integrate the shaker better in the songs. Some songs the shaker works great and others I don't think it works at all.
Don't allow a mystery award to start song. I think it'll say light song and it starts anyway. That's fine if it lights the song, but don't start it. I'd like to be able to disable the song like I can for album modes.
Add song level to the status screen before playing the song so you know what the song level at.
Move the "Jackpot Increased" animation out of the way during a song. Often times I look up to see what the jackpot value is and its blocked.
Add a high score for "Jackpot Lost". I wont feel as bad about loosing a 100 million + jackpot if I can put my name in for it. I'd also like to know what the jackpot was at after draining out of a song.
I'd like an alternate game where you choose any song and play it from the start. Kind of like the Escape Nublar Challenge on Jurassic Park where you can play just that mode instead of the normal game. This would be fun for non-pinball people. They'll have fun rocking out and flipping the ball around instead of spending most of the time in a building stage they don't understand only to get play the start of a song on ball three and having it end once the short ball save expires. I'm thinking unlimited ball save for the entire song, but you can still get booed off stage. I'd like to be able to choose how many balls would be in play for this. One would be good for the non-pinball people because all six is pretty chaotic even for advanced players. Another way it could be done is starting with one ball with a starting ball save, and a person could add a ball by completing stages or power chords, but without unlimited ball save. Completing a stage would add to the ball save or restart it. There are many ways this feature could be implemented, but I would like some form of a single song alternate game mode.