I would also like to see an option to play an iconic race from 1-20 instead 15-30 and this only for the racial life or the class life (like a normal race).
Another thing on my "wish list" would be a way to get a +1 LR heart other than the DDO Shop or a super rare chest drop, the LR heart drops in chests are so rare now that I don't even know if they still drop at all.
My suggestion would be that you can change 10 flawless Siberys Dragonshards into one +1 LR heart and two +1 in one +5 and two +5 in one +20.
If DDO wants to be an FTP game then everything that is available in the DDO Shop should also be possible to get only by playing.
And yes of course it is ok for items that are available in the shop should be hard to get with playing so that there is still a incite to buy them for DDO points and real money but the items should not be a kind of "myth" so you need ultra luck to get them without DDO Points.
Another thing I would suggest regarding DDO points is that Wishes of Racial Memories also work when you have an iconic race, I see no point why you should not get the class past life and in addition a racial past life of your wish.
I can also imagine that such wishes have more customers than if a player likes a certain iconic race a lot and rather play this iconic to get the racial past lifes done than another race.