T4R. For me, it would be a Deus-Ex: Human Revolution - esque game, but set in an open-world - Basically a cyberpunk open-world RPG.
You could travel across the world to realistic bustling urban cities with all the detail that Deus-Ex had in it's relatively limited city hubs. Level design in Deus-Ex was brilliantly non-linear - they never shoe-horned you into any specific situation; there were always multiple paths to traverse through any given space and a choice of sneaking past or going Rambo on hostiles. That kind of detail would be almost impossible to replicate on an open-world scale, but if it ever does, I would pay through the nose for it.
Also I want a high-speed motorcycle chase through New York where you can jump on pursuer's bikes with an elaborate hijacking animation that ends in you kicking them into the Hudson.
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Edited by Noshotskill: 8/6/2013 11:10:19 PMHD Zelda campaign with Halo 2's multiplayer. And your Spartan pulls out the master sword when going for an Assassination (yeah, I'm adding Reach's Assassination's to Halo 2's amazing multiplayer). O, and when you kill enemies they spill out Gears of War blood and gore. I wanna see Link hack and slash some Dodongos!