1) Color wheel. Not sure why they haven't added a color wheel to our themes yet, it seems like a no-brainer to me.
2) Idk if it's just me, but I wish that when you highlighted something and hit search that it would search for it all the time. Sometimes it works, and sometimes it doesn't. This should be standard for whatever you are doing it makes things so much easier. Or just add the ability to highlight, press and hold, and then have "Search for...". I've gotten so used to doing this on my computer with Chrome.
3) Again, idk if its just me but my phone doesn't do "pictures of people" albums when I tag my contacts via sky-drive. It seems like its a Facebook only thing, and since I don't use FB then I feel I'm getting screwed out of this ability. In the same vein, my dates on my contacts don't sync with my Calender. Again, it seems like its a FB only ability, and that I'm getting screwed.
4) Silence on the volume shortcut. Can't tell you how annoying it is watching a video or listening to music and hearing 6-7 different notifications go off.
5) Change the store page back to just New and not New and Rising. I like browsing the new stuff, and it's hard to wade through all the rising stuff I've already seen.
6) As stated, SMS search would be nice. As well as the ability to look at SMS media between you and a contact in the history section. I often go looking for pics that someone text me, and it can be hard to find them.
7) Remove the passcode for the Kids corner. It almost defeats the whole purpose of having it if I still have to put in a passcode.
8) There needs to be better connection with the WP8 and Win8. There's so much potential there for things like syncing, using your phone as your PC's webcam, using the touch screen for navigation on the PC, virtual Keyboard, etc. Not sure why MS didn't make a better connection between the two. Some missed opportunities there.