Popular Science magazine used to have a section where people could publish their wishes for devices that could do things not presently possible. It was called "I'd Like to See Them Make..." How about a thread like that? If there's already one, maybe the moderators could move this post there.
I'll start. I want an app that will convert MOV files to MP4 right on the iPad. That way I can eliminate converting the clips first on my Netbook from the set of steps I have to go through to get a video from my pocket video cam into iMovie or ReelDirector.
An app like this would cause my wallet to spring open like a baby bird's beak at feeding time. IOW, I'd be willing to pay well for that capability.
The problem might not be computing capacity on the iPad so much as getting around iOS' unwillingness to deal with MOV files in the first place (I can get a MOV file to transfer to the iPad--though not via iTunes--but it shows as a blank square labeled "MOV", and I can't do anything with it). I'd like to see that problem solved without having to jailbreak the iPad.