Apart from being weatherproof, reliable and uses batteries which are easily obtained anywhere as my etrex does.
Be more like a computer where add ons can be attached, such as heart rate monitors and power monitors etc, internet, have a link with other GPSs so that you can track other GPSs on yours and a link with a live weather satelite, so you can see the weather up the road. It'd be handy if it talked sometimes too, to tell me which way instead of me having to look down at the screen, especially in busy towns when I like to be on the lookout for hazards.
As it is, I think that mobile phones will become personal pocket computers (they allready are) and that a GPS will be an extension of that via some software or something.