I stayed away from this deliberately but I'll put my bit in now and hope you enjoy what I feel should be done.
GT5 Drag Racing - My wishlist
General
1. Real location for drag strip. Having The Strip @ Las Vegas would be so much better for the game rather than a fictional Las Vegas track. Another choice would be to use Sonoma's strip at Infineon Raceway since they have had previous history at the circuit with the Sports Car & Stock Car courses.
2. Changing conditions. Track temperature, humidity, altitude adjustment, things like that. And to add to that, their effects on not just the track, but the engine's performance aswell.
3. Drag Slicks. Not R5's which still wheelspin at the drop of a hat as soon as 300hp of FF car gets on them, we're not talking about that, but full fledged Mickey Thompson slicks on the car. To add to that, on rear drive cars this should affect it's physics and do things like cause wheel lifts on the front, etc.
4. Bring back the old drag cars!! I miss the HKS GT-R!!
Ripping the 1/4 in the Escudo just isn't right.
And introducing more up to date drag cars (HKS Supra for example).
5. Warm-up Burnouts. Being able to warm the tyres to get better traction off the line, essential for the cars that would be sporting the Mickey Thompson slicks suggested in point 3.
Online
1. Online Divisions & Tournaments. In this, qualifying for such events should be included if more than a set number of cars goes in (16, 32, 64) and racing or having different divisions (like the NHRA Sportmans Series) to cater for different drivelines. Set tournament entry fees and allocate Cr. prizemoney to the finalists & semi-finalists.
2. Ability to cross tune. Basically, you can assist another PSN member that's in a tournament like a crew chief and allowing them to quickly send setup's and adjustments between those PSN members between rounds of the tournament. 1 crew chief per PSN member though.
3. Ability to have on the spot drag races against other people, betting x amount of Cr. against eachother. No pink slips, that's all Fast & The Furious stuff....but people will race for money!
4. Staging duels like Patrik suggested. Being able to take the other driver to the woodshed on the tree is what develops drivers reputations. Maximum 7 seconds (NHRA rules) after staging has been triggered by Car 1.
5. Long shot on this one.......but how about for spectators the ability to bet Cr. on cars racing in online tournaments and getting odds for certain cars.
6. Drag Racing Guilds for team drag competitions. 8 vs 8 or 4 x (4 vs 4) or 8 two car teams for a 16 car tournament.