I just realised I didn't actually post about features I want. Hmm.. I'll just ask some questions about things that have already been mentioned.
I'd find it rather odd to start anew at level 1. In Loren 1 everyone kicked ass and saved the world, and now they're back to square one and are as weak as before that happened?

I understand that there needs to be a starting point that characters can develop from, but maybe you could give them a large number of skills to start with. Or make the first skills really deadly.
Also, about classes: Saren/Elenor can still heal, right? Obviously, the Healer would be better at it than the other classes, but having the ability to heal was a huge part of what made the main character special in Loren 1. It would be wierd if that was suddenly gone. I'm one of those people who'd choose whatever class would be most consistent with my character in Loren 1.
Choices would be cool, but I can live without them.

In Loren 1, Saren/Elenor was very much the sidekick (which I really enjoyed). I haven't read up on all the info for the next game, but I get the impression that the main character is doing his/her own thing to a greater degree, rather than following Loren around. In that case it'd make sense for Saren/Elenor to be able to make more choices. I'd rather have a completely linear game that feels well executed and polished than a game that gives you poorly-implemented choices, though. *cough*go to the prison or to the forest*cough*

I'm happy as long as every scene makes sense in relation to the path I've previously taken.
The dialogue system in Loren 1 was quite weird, but what made it quite awesome was the ability to scroll back and change your dialogue choice. I've never seen a game implement backtracking in dialogue to that degree. It was a cool way to get to know the characters and the lore better. So, please keep that.

Also, would it be possible to make sure conversations don't appear in the wrong order or after events that make them obsolete? For example, I noticed that some of Myrth's conversations in Loren 1 didn't make sense after you'd been to visit the dark elves. One moment she agreed that they'd been wrong about the dark elves, the next it was like she forgot all about it.
I love the idea of getting to know more about Saren's and Elenor's lives before Loren 1. That would be sooo awesome.