We've got a lot of development activities that could use some attention, regardless of future direction planning. Many of these already have had some initial development and mostly need somebody to finish them off.
"localize_item" - update with group join and profile update activities. The latter will be difficult to translate, but both need zrl support and perhaps magic-auth links added
Revamp "account remove" to send unfriend/delete-me activities to everybody possible (including global directory unpublish), while deferring actual removal for one day. But remove all content and mark profile as defunct.
Provide a "blog" page type which allows moderated comments.
Finish off "mail2" contacts. They will need to verify their address, and agree to make their communications with you public.
Statusnet (plugin) import/follow all contacts.
mobile theme (there are several initiatives working on aspects of this)
global directory theming/translation (repository will be made available shortly).
Friend "closeness" filter/zoom of stream
xmpp friends (not chat) w/ offline storage/queuing,
Split off tags/mentions/fileas/category from item table and put in a "taxonomy" or term table - while preserving current functionality.
We've got a "post language detector" component. Those that want automatic language filtering may wish to work on integrating this.
Import Wordpress comment feeds, attached to Wordpress contacts
Then there's the R&D work on the next generation server aka Zot2/Red, including a revised application archicture, openid, the protocol framework, account forwarding and DNS abstraction.
If you wish to take on any of these activities, just raise your hand - and I'll try and fill you in on where we've taken feature 'x' so far and where to find the relevant code and how we initially envisioned it working.