Hi guys.
I've wroten this in April 2011, so maybe some questions get answers as I had not bought the Show 12'. But this is still what I think about franchise mode 
Franchise Mode
In your opinion what needs to be changed, added, or tweaked to make this portion of the game better? Along with that what would you like to see more of?
*** Give us the ability to modify divisions (ie put the Brewers back in the AL Central)
OCTOBER EDIT : or put the Astros in the AL WEST
*** Create-a-team which replaces another one (location, name, uniforms)
*** Create-a-team which would be add to a division which means 31 teams I know (so maybe 1 more team to create 2 conferences with 16 franchises)
*** Create-a-stadium if we create-a-team / Create-a-stadium during our franchise.
This feature should allow us to determine :
#1: the field's dimension (left field, left center field, centerfield, right center field, right field but also foul territory with the ability to "draw" it, the depth behind the plate) and its form (is the outfield is straight (as progressive field) or "curve" (as US Cellular field))
#2: the height of the wall (with different height for different zones of the stadium) (as Citi field) and even the possibility to add high wall like the Green Monster
#3: grass or turf / roof or not
#4: obviously the number of rows/seats (which would be related to budget)
#5: positions of the benches / pen / ...
#6: Decoration (like the fountains in KC)
*** Extend players/coaches' contracts during the season
*** Firing coaches/scout/staff during the season
*** More stats (players & teams) & more splits stats (batter vs pitcher, performance of a player vs a team, in a particular stadium, month by month,...)
*** If possible each player vs player stats during the franchise (which tells us if we perform with a specific player vs a specific player or not)
*** Contracts offered, free agent's type (A/B/ nothing) based also on performance and not only related to ratings
*** Rename our franchise save data (if you play like me with a lot of save you certainly keep some save @ some moment of the season like AS break end of each month,...)
*** Promotion (call up/send down) based on performances for each level (AA/AAA/MLB)
*** Add the possibility to convert players to another position (rather than just editing him)
*** Learn a pitch for a pitcher (rather than just editing him)
*** Add a personnality to players (like Madden 10 did) which influences their choices (for instance, what are they looking for first ? Money ? a ring ? coming back to their birthplace ? neglects small market teams ! never play for a rival or a specific team (do you see A-Rod in a BoSox uniform?) / rival players in the future club / clubhouse cancer like Manny
...)
*** Add a personnality to managers (type of line up : pitching, speed & defense, power, small ball,...)
*** Add a personnality to GM's too. This means going further than just the rebuilding/normal/playoff profile (what do they want ? Obviously if you ask a GM he wants to win so how could he do it ? First making money and then being a contender ? if so, how? marketing, being aggresive on FA to draw a lot of people to the stadium, ...)
*** View stats/awards/winner/standings of the past years.
*** Maybe the overlay of the stats could be like baseball-reference
Thx for reading
EDIT :
*** Each stadium created should be shared between players. This allows people to create old stadiums as some did by creating classic rosters.
*** Give the possibility to discuss the retirement of a player, try to convince him to play one more season. If we fail, we should offer him a job in the organisation.
*** I like the TWIB idea. And maybe we could see some higlights of the games we've simulated during the game we are playing (like "live look-in" on MLB)
*** Give the possibility to edit contract players and salary mass. The custom guys for OSFM rosters could this way change the salaries of each players. (A-Rod is making 30 millions not 14 or 15, ...)
*** Re-do the catcher animations when he has to tag a runner sent home. Too often the catcher enters in slow-mode-animation resulting in run scored whereas he had plenty of time to tag him. Same thoughts on bunts, my guys field it too relax.
*** Maybe involve us on flyball by pressing a button to make the catch. The window should be smaller when a poor fielder try to catch the ball.
On routinee flyball you don't see huge differences because even for bad fielders you can make big windows but on line drive you have a smaller window and catching it would be a reward for each of us playing the game. We could have the feeling of saving a run.
*** Of course, with the news we heard today, yesterday (depends on which part of the world you are
) we'll want the 2 more wild cards and the one game play-off game (I don't like it but that's not the point) ; and if Houston change of conference during the 2013 season in the franchise I'll be happy (though the schedule would be unvealed only next September - maybe SCEA could choose a type of schedule)
MAY 2012 EDIT :
*** Add rain delays / option to close the roof or not
*** 3 or 4 teams trade
*** more than 3 players involved in a trade by team / add cash in trades
*** Scouting / Draft and so on... I let this to Knight & co
*** Incentive-based contracts
*** Transactions/Trades filter (as FIFA does)
*** Add the following option : Pitching coach/catcher visit to the mound