Since we do not get to have addons on the console version of this game, I think it is imperative some things change.
The first thing I would like to see changed is communications. How many times have I been auto linked to area chat, and then some random noob has his stereo blasting in the background with music I don't care to listen to? I can tell you that is one of the most annoying things to put up with in any voice chat based game. My solution to the problem is giving us back keyboard chat for zone and say while keeping voice chat for grouping and guild. Another issue this addresses is seeking guilds or selling items directly to other players via mail. It would add another avenue to pursue when making gold -- yes, I realize this opens the way for goldspamming, but because area voice chat is so problematic with people who have no manners or respect, I feel I would rather deal with goldspammers than some annoying person shouting, creating loud noises, or just being a general nuisance via voice chat; I don't like talking to people unless I have a reason to in games at any rate; I'm not antisocial, I would just like the choice.
The second thing I would like to see changed is the UI. I want to see my armor and weapons at a glance via something graphical, not from a list -- a seperate menu for gear would be nice. I would like the layout to be based on tabs, not a scrolling list. For instance, tabs for items which would incliude materials and usuables, and a tab for gear with sub divisions of tabs for weapons and armor and accessories that showed stat value contributions at a glance so we don't have to hit the skills or character menu to see the effect our gear makes.
I believe an even better approach would be to kill the entire main menu UI in favor of a radial menu system that blooms the sub menus out into their own radials to navigate once the choices are made. For example, I press options, and a radial appears for that menu, then I move my stick onto "items," and then it blooms out to its subdivisions, locking the camera to center on "items" with "consumables, materials, etc" surrounding it. Next I move my stick in the direction of "materials," which selects it and drops me into another radial with "materials" on center and the various crafting titles surrounding it, and then finally selecting a particular crafting "job" selects a standard list interface with the list of materials for that craft.
All in all, the less time that has to be spent in menu, the better IMO. What seems pretty easy on PC via mouse, is not the same for controller -- it's an entirely different interface device, and the smoother the transition from one menu to the next, and the less convoluted the entire experience the better.