they should:
-fix the animation mistakes in the movie, and the cartoons.
-do an entirely cgi version of the movie, it wouldn't replace the original, but it'd be a nice experiment. and I've already bought 4 or 5 versions of the thing, be nice to own another.

-make a version of TFTM in all live action, with hot girls cosplaying for every role.
-do a sequel or two or 3, or maybe even just a couple of OVAs filling the gap between the 2nd season of the cartoon and the start of the film. Who wouldn't want to see the Decepticons fully taking over Cybertron, and the events that led to the Autobots having bases on 2 of the planet's previously unseen moons, as well as the construction of Autobot City and the first meetings (or reunions) between Prime and his Ark crew and Ultra Magnus, Kup, Hot Rod et al. I think there's a few seasons worth of animation right there, plus they could have the human element with Spike growing up, becoming a father and the formation of the EDC which might actually be interesting "human drama" (TM) for some of us older viewers?
assembling a Neo-G1/TF:TM cast. Please PM if you have (or know of) the following at a reasonable price: Classics or Henkei Astrotrain, Sunstreaker, Sideswipe, or 3rd Party iGear Ratchet and Ironhide.
Also looking for Universe Repugnus and Overbite, Frostbite and Longhorn and any Webdiver toys.