The FFXI Fame system was terrible, but A fame system would be great. A Faction system would be even better. Make it so players can build reputation with Each Clan and Each city and each guild. Would be pretty epic. Just have to make sure it's not something people grind.

I would like to see a system where you actions(things you kill, quests you complete) raise and lower your standing with different groups resulting in things like Shop keeper discounts and side quest storylines.

No cabbage trading though. Would be better if say Defeating a Specific Kind of Beastman or Participating in a Specific Behest/Hamlet Defense would be the most significant things.