Realistic goaltending (ie. not always stacking the pads, animations actually change and they try to react to a tip instead of just being locked on to the one they originally started...atleast have them flinch or something).
Realistic penalties (include double minors, allow bench penalties, realisitic instigators, call goalie interference, allow players to hit the goalie when they're inside/outside the crease)
Suspensions for cheap hits/unsportsmanlike conduct.
As noted about, realistic crowds and arenas would be a plus. And, somehow, realistic scoring/shooting. I've tried adjusting the current sliders and I still end up 50+ shots a game and atleast 4-5 goals.
Ah, and make shutouts possible as well. After probably 10 seasons of NHL 2006, I have got one shutout.
That is my rant