I was wondering if it's possible (down the line) that higher graphics options were to be added? Currently even at the highest graphics I still feel that there's more this game could give. And I'd love to see even better textures, anti-aliasing, shadows, and more.

Just bigger and better really, but as an option. That way the ps3 won't be taxed. (they can't even handle clothes moving after all)
Those who would have the system to support the additional graphics can turn it on, those who don't, miss out.
But nobody has to have a lower performance as an result. (unless they choose to show the settings)
Textures can be saved locally and thus shouldn't tax the server load as they're loaded by the client same with anything else graphics wise really.

I'd also love to see belts returning as an separate entity, all the other slots show up separately so why can't belts?
(again this can be an option if it's an issue only showing it to those who have it turned on (it could overwrite the current belt models with your own belt)

To summarize I'd like to see added
  • Higher texture options
  • Higher anti-aliasing options
  • Better shadow options
  • More shadows
  • More lighting options
  • Separately shown belt models
All of these optional to those who can support the settings.