I'm sorry if this was said before, but one thing that I personally don't want?
Forced global damage.
Most people making the argument for damage have no idea what they're really asking for, and I'm looking forward to people crying when GT5 comes out with it - ESPECIALLY if they do not MASSIVELY rework the AI. You are going to return the game in like 30 minutes after playing it because you'll have blown 10k on a car and crashed it to bits in your first race. Oops, game over. Just like real life! Which is why we aren't all outside on freakin' Laguna Seca right now!
There's a reason professional drivers get paid to do what they do, folks.
Damage should be included, don't get me wrong! But make it adjustable somehow, or able to be turned off. That will be the best way to satisfy both crowds. I personally want the game to capture the reality as close as possible, but sometimes I race to enjoy that driving realism and not having to worry about my car getting totaled if I hit a patch of bad pavement at 200mph and blow my right rear out, causing me to slam into the armco and flipping the car several times.
Being able to adjust it is the key point.