Things to do (in random order):
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Soon:

HexMode
DrawMode
BlockLoad/Save
Diff Mode
Command history
Keyboard macros
Block sort
Piping block> <block
Paragraph reformating
Directory handling when programs are started.
Close/save/saveas... in buffer list.
Wildcard support on the command line
Paren matching.
Limit undo (currently unlimited, using a lot of memory).

Future:

Mouse support.
CVS/RCS support.
PM Version.
Script language.
Compiler support.
Multiple buffer-rings.
Save/Restore desktop.

Never:

Kitchen-sink support: news-reader, mail-reader, web-browser :)