1) Enhanced security for accounts and game communication
The present model of having the same login name for both game and forums is a big no-no. Knowing the half of needed information to log in to another players account is a bad thing that should be fixed. Same goes with the client/server communication, which should be done with closed, encrypted and effective stream instead of using existing protocols like HTTP. Passwords should be longer than 8 characters if player so wishes - maximum allowed password length should be at least 32 characters.
2) Real database backend instead of ToySQL
Postgres, Oracle, MSSQL... MySQL has very bad security, durability and standard compatibility record. It might be fast in some cases, but the speed has been implemented mostly to look good in speed tests and not in worst case scenarios. And running any DBMS is ongoing worst case scenario. There are big sites running MySQL as backend, but most need to use proxies and caches to keep the sites actually usable due MySQL deficiencies.
3) OS with better TCP/IP, processing performance and security track record than Loonix
FreeBSD, OpenSolaris, OpenBSD... Loonix has been written to look good in artificial speed tests - Kernel, TCP/IP stack and c-library are all sub par compared to other even more "free" alternatives. FreeBSD can run Oracle faster under emulation layer than real Loonix for example. And of course the kernel vulnerability flavor of the month issue of Loonix doesn't make it that lucrative...
4) Private server for microkitten to imagine he's the lord of universe

If PvP and outpost warfare has priority in development, the present security model is real threat. PvP crowd tends to be very competitive and in any PvP based game exploiting game mechanics, client/server communication etc. is ongoing trend. Even with Ryzom's quality(?) playerbase PvP started dragging the worst out of people in strive for supremacy in PvP.
What might drag me back into Ryzom has been said several times over before the fall by Jyudas. Add removal of experience cats and Ryzom could have enough pull again. If the password/account name silliness isn't fixed I won't be back.