When it comes to better graphics for WOW, I'd look at something more like Darksiders 1 and 2 and the quality of their digital sculptures. They would all make totally awesome statues or action figures on my desk, ya'll. No matter how good the graphics will ever get, they will always look like these guys's art, brought to life.
Personally for lack of some more ambitious ideas, my ideal WOW would be a marriage of WOW with Tera and Darksiders.
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A wandering young warrior, sheild on my back and sword on my hip, nothing but my pants and shirt and my boots for armor. Wandering the newly formed Teldrassil (after traveling there to leave my younger brother in the care of the Shadowglen Druids of Aldrassil of course )
But then, I could also see the world Blizzard talked about WOW exploring back in 2001, which was a kind of post apocalyptic future decades after WC3, now perhaps incorporating what an Azeroth would be like after the alternate timeline progresses from WOD, if we dont' destroy that entire parallel universe once we finish there.