These aren't really bugs, per se, and some may have been covered already. This is just me rambling (as I'm sure you've seen me do on those rare occasions I post ;->)
Some things I've noticed:
Iris reports as 6.0.9.2 I believe, so is it safe to say that the 7.x packet updates are not in?
The Z scale of world objects looks, and has always looked, wrong to me. Is it possible to "stretch" the Z of objects (walls, trees, mountains, etc) to 1.5x the current via code/scripts, or would everything have to be re-modelled?
The Bloom affect is wonderful.... Except when looking at the sky, near a large body of water (which relects said sky), or in a "bright" town (Trinsic comes to mind). Then it becomes quite "nuclear" in appearance ;-> An HDR method might be able to compensate for the brightness in those areas. (Though to be honest, unless it's handled in hardware, that could be slow)
I think I read somewhere that the First Person control scheme was going to be redone. This is basically a must, I think ;-> I'm almost certain I read about a Behind The Back 3rd Person, which would also be useful.
I'm sure there's other stuff, I just can't think of any at this point