I think most people agree that the 3.5 sorcerer needs retooling in order to keep up with the wizard. I want to make it a class people want to play.
I like the bloodlines introduced by Unearthed Arcana and championed by Pathfinder. I think these and their powers should be standard and not require feats or class feature substitutions (but perhaps feats to enhance the bloodlines would work).
One thing I think a sorcerer should have in her repertoire is the ability to produce quasi-spell effects. Variations on traditional spells should come as a standard power for sorcerors.
Example: a sorcerer with burning hands should be able to light a fire similar to the effect of a match without expending a spell slot.
I need to think about this more.