1.) In Dynasty Mode, homecourt advantage in the playoffs should be determined by the records, not by the team rankings.
Let's say I'll play Miami in the playoffs using real-life records. In the first round, Denver is going to get homecourt advantage over the Clippers based on the format in NBA Live. If I get to the finals, I get homecourt over teams like Dallas


2.) New CBA
This isn't really much of a problem as I'm expecting EA to update the game with the new CBA since they didn't have time in NBA Live 06. (such as setting your active/inactive list before games)
3.) Dunk Contest Timer
The NBA Dunk Contest has been happening without timers for quite a while now. I think this should be removed at least for NBA Live 07. Anyway, what does EA care about if you're stuck with Nate Robinson missing 10+ attempts?

4.) Overtime length
I think the length of one overtime period should be half of your quarter length. (except the 11 and 12 minute quarters, where OT should be also 5 mins each)
5.) Playoff Logos
Why does EA love the 2003 conference finals logos? I saw those in NBA Live 2004, 2005, and 06. (The one where only the NBA logo and "Conference Finals" is present) I think those sucked.

I'll limit my thoughts to these for now. There are already a lot of threads and good ideas about graphics in the last wishlist.