Okay, so I'm not a D.C. buff so as a mainly marvel fan i know that we need an updated Nova as the old one is him from his kid days, while now he is a cosmic hero of epic proportions. I would also like to see a updated She hulk and maybe a updated Blade,

Sidenote, it would be hilarious if one of blades abilities had a twilight theme to it.

I could go on and on with what characters I wanna see redone, so I'm just going to pick my biggest update to keep this short and sweet....

Magneto.

Last one we got was the House Of M version from Armor Wars. He desperately needs to be remade and made into an extremely powerful figure, so he's just like he is in the books.

and because of special abilities they could make one that affects objects and does something really cool like telkinisis but better.

Weather Wizard
Trickster

Nova
Gladiator
Cyclops
Captain America (Bucky Cap)

An updated Gladiator would be awesome, He could have the Invincible ability along with power cosmic team, it would be awesome

A Wolverine that actually reflects his brutality and the amount of damage he can sustain.
Black Panther that relfects his tactical intellect.
Probably a new Fantomex and Psylocke by the time the next set rolls around.
A Storm that actually shows the fact she controls the friggin' weather. Like Magneto whos been mentioned, thats some power.
Adam Magus or just a good Adam Warlock, which is probably impossible as his power set has never been shown as Thanos level, he's just on the same level, probably higher of tactical genius. How many times has his intellect been responsible for saving the universe as he's been shown to basically out think all the major players, cosmic (including the abstracts!) and other wise (including an Infinity Gauntlet powered Thanos!).
Thanos. Drax. Silver Surfer. Juggernaut.

Quasar
Nova
Magneto
Sabretooth

On the marvel side, Magneto and Juggernaut are definitely overdue. Heck, we haven't had a Juggernaut since Fantastic Forces!

For DC, the biggest thing I'm missing is Deadshot - the first one was not even slightly representative, and with us getting Secret Six figures in every set, it's about time for one to rival Bullseye.

Ghost Rider and an E2 superman that the common man can afford

Captain America (Bucky)
The Beyonder
The Watcher
Avengers Wolverine
Avengers Beast
Fantastic Four Black Panther and Storm (duo would be fine)
Red Robin (Tim Drake)
Earth-2 Robin and Huntress (duo?)
Spider-Man well over 100 points
Batman well over 100 points (not chase)
the rest of the original Guardians of the Galaxy
more of the Great Ten
Man-Wolf
Wonder Woman with Batman and/or Superman Ally Team Ability

there's a lot more stuff to be made and updated, but those are the ones that jump out at me (the ones in bold are the biggest needs).

We've got to have an updated Cyclops. The Danger Room one was good but too economically priced; the Mutations and Monsters versions do not represent the current continuity Cyclops. We need a clix representation of the Astonishing X-Men Cyclops pronto!