Here is my list:
1. Remove the bugs as much as possible! Get user feedbacks! Dont concentrate on the graphics! Try to build a realistic cricket game, not a good looking cricket game!
2. Online gameplay - as some one said here, even if the AI sucks, online gameplay would compensate for it! But it should be implemented perfectly! Or at least network play (which can then be tweaked into online play also!).
3. Unlimited faces/bats
4. More options of player models (This was in Cricket 2004! Dont know why the sh*t did they remove it from C2005!). Sachin should look like Sachin and Pathan like Pathan!
5. As usual, improve the AI drastically! One should not find batting or bowling to be damn easy! The hardest mode should be what ultimate realistic gameplay!
6. Have real formats for Knockout/World Cup
7. Include Manual Appealing for anything (Also if possible, make the player not play in the next match of a tournament if he appeals excessively!).
8. Realistic pitch wear/tear. Last day of a test in India should be the ultimate heaven for spinners!
9. Captains coming out for toss/have Man of the match for all matches/have Man of the series for tournaments/have an even better celebration pattern for tournament victories