While highly unlikely, I'd like to see, at some point this year, upgrades/changes across all the lines, like this:
Shuffle: Price drops to $75 and $120. The introduction of an add-on that adds a small screen to the Shuffle, like 2 or 3 lines of black and white text. Would be especially cool if there was various versions of it, like one with speakers, one with a DC car adaptor and an FM transmitter, one with a SD slot and an extra battery, etc.
mini: B&W 6gb down to $200. Color 6gb at $250, and a color 8-10 at $280-300. Better colors, the new colors look washed out.
'Standard' iPod: I think most people want/expect the standard iPod to go all together, being replaced by a Photo model. Maybe (likely?) that will happen, but I'd like to see a 60-80gb B&W iPod that is aimed at excellent sound reproduction and amazing battery life. Call it the Audiophile iPod or something. Price it around $450-500 and included some really nice headphones.
Photo: Probably to become the standard iPod, but only if they can slim them down to the size of the B&W models. I think they could do with just a reduction in size, increase in battery life, and a price drop. Keep the storage capacity at 30 and 60, priced at $300 and $400.
Video/Movie iPod: I think there would be a market for a movie iPod, if it had a larger screen. The device could be bigger all around, to accommodate for the larger screen, battery, etc, as long as the Photo was slimmed down for those who want a highly portable player with a color screen. Video out would be a must, and an optional dock with a hardware video encoder would also be cool.
A new iTunes 5 with a movie store (with the same setup allowing independent productions to be self encoded and sold), and the same buy by single track type feature for movies. For example, buy a single episode from a TV series DVD set for $2 or so. Or buy a whole movie for $8 and then get the special features for another $3 if you liked it enough.
40 and 80gb models at $400 and $500 would be nice. The vidoe encoding dock for an extra $150 would be perfect.