I'd prefer it to be more like how Demonology has Metamorphosis. It'd be a stance, which we'd be able to use for a certain amount of time (depending on resources), with resource generators and resource spenders, in addition to our current abilities.
I'd also prefer a model change; even if we were just engulfed in the element of our specialization (Water for Restoration, Air for Enhancement, etc.) like how Destruction warlocks are completely bathed in flame once they're full on embers. I'd be completely happy with that.
I feel as if what's stopping Shaman from being what they really could be is that extra resource (maybe, maybe not) and a metamorphosis-like system for Ascendance. They could really work wonders with the possibilities, but instead it's just another gimmick-cooldown which would cause you to take half of someone's health of as Enhancement, or instantly cast Lava Bursts as Elemental which are - let's be honest - quite ridiculous, though Restoration's Ascendant is nice (spread healing).