They will take use the same features as the Zune such as FM Tuner, wireless transfers, and more photo options. But, I also predict more colors, like the shuffle and nano. And, I wouldn't doubt if they add more games.
WiFi and/or Bluetooth would be nice. Widescreen would be great. I'm not so keen on a touchscreen. Leave that to the iPhone (and DS ) The wheel is a great navigation tool as it is.
I'd like to see the iPod come with built in speakers. There are a few other mp3 players like this, and it looks like a great feature. If I'm showing a video to a couple of friends, a speaker would be a great addition, rather than just the headphones.