No unnecessary lights on the case! It looks just overkill.
Disk: Blue-Ray Disk, maybe .5cm larger than the current minidisks, so they are even harder to pirate.
As for the RPGs: Some kind of RPG-Maker in 3d. With option to transfer material via PC and import custom graphics (Hell, I'm a modeler!).
The price doesn't need to be too low. The GCs EUR199 (about USD200) was fine. But I'd say lower the game prices a bit (from 60 to 50), after all PC games cost just 45.
Buy Rockstar? Hell, WHY? GTA1 was the best anyway! And that was released for the GBA as well.
If they have some time left, they could release something like the EDS (if you've read Megatokyo, you know what I mean
)...