My #1 wishlist item, which would be easy to implement, is "guest mode" -- let me hit a button on the lock screen (or elsewhere) which lets me loan someone my phone briefly without any personalization or sensitive data. A standard web browser, phone app, etc. Maybe let me customize what apps are available in "limited mode". This matters even more on an iPad, which I'm generally willing to share, vs. my phone, which I won't let out of my sight due to fear of missing a call.
This would be for: 1) Loaning someone my phone briefly 2) Kids -- you might want to lock the phone down to a single app. (or, for me, lock the phone to a single cat toy application for cats) 3) Theft -- if someone steals my device, it would be nice to remotely drop it into "browser and email only" to keep him online so I can continue to location-track and then order pipehitter as a service to recover the device.