What features would your dream LMS have?

Kinda pogo'ing off the "worst LMS" thread from a couple days ago, what features do you wish an LMS would have? If there could ever be, in some fantastical future utopia, an LMS that's designed by people who have to use it, what features would it have? (Do any LMS's HAVE these features that I'm just missing out on? I've only used Blackboard and D2L myself.)

For me...

1. It would be 100% WYSIWYG (what you see is what you get) - the interface would look the same from the instructor end and the student end.

2. You could add files or create new links/folders/etc. directly from the folder or menu you're looking at, without having to open a separate "content" tab.

3. It would have a way to automatically produce quizzes, discussion boards, grade items, etc. for every day of a class. You could enter your class schedule (or it would just know) and you could have it, for example, create a quiz with 4 blank multiple choice and 2 blank short-answer questions that's available from the end of each class and due at the beginning of the next class, with all the other random settings kept the same between each one.

4. A more minor thing that would be very nice would be an option to allow students to request extensions on assignments directly through the LMS. They could specify how much extra time they need (up to a point that you set), add a comment, and you could set it to automatically approve certain extensions or flag you to approve them manually. Then, when grading, it would show that the student got an extension and had an altered due date. I hate having to cross-reference every submission that the LMS flags as late with my email to see if the student had an extension or not.