My 5 things would be:
1. Add youtube option during video upload so that youtube videos can be directly embedded.
2. Add recaptcha plugin support
3. Change the Ray video player and make it look more stylish like clip-share.com video player
4. Support Pre-Post and in video ads inside the video player
5. Improve "invite friends" by allowing to use some plugin like www.getmycontacts.com so that it will be much easier to make your site popular
1. Add youtube option during video upload so that youtube videos can be directly embedded.
2. Add recaptcha plugin support
3. Change the Ray video player and make it look more stylish like clip-share.com video player
4. Support Pre-Post and in video ads inside the video player
5. Improve "invite friends" by allowing to use some plugin like www.getmycontacts.com so that it will be much easier to make your site popular
Thats all for now :)