Bells & Whistles
A roster update and Magners League licensing is a must. As there is no other compeition for the team copyrights, surely the price will be fairly low to use them, so it shouldn't be too big an issue.
You should also have a seperate campaign for each league. For example, you would have, say, the Super 14, Magners, Premiership and Top 14, and be able to go through a basic season as the Stormers without your progress as the Newport-Gwent Dragons, Quins or Clermont being deleted.
Online play, with decent matchmaking. Easier said than done, but the likes of FIFA and Madden have managed it, so it wouldn't be too big a strech for EA.
The Game Itself
The 'Star' players should firstly be updated (So, for example, while Wales would still have Shane Williams, Gavin Henson would be replaced with Jamie Roberts or James Hook) and each should have a signature move, as should various other indivduals. I'm not asking for every player to be unique, but various key ones (So sticking with the Wales example, Williams would have his step, Roberts would take three people to bring him down, ect., but as for forwards, the likes of Gethin Jenkins would be able to land big hits, and would improve the scrum.)
More control over kicks, but not total control.
Referres who don't see everything as an option, as said before.