A feature I'd like to see is to be able to make a video public, private, or unlisted quickly from the "My uploaded Videos".  This will save time for those who needs to make multiple videos public, private, or unlisted.

 

Also...

Currently, users have to click on their username to get to their favorites, channel, queue, etc.

When a user clicks on their username, takes them to a page with a bar at the top showing My Videos & Playlists, Favorites, My Channel, Subscriptions, Insight, Inbox, and Account Settings. 

This bar needs to be added to the home page so that users have one click access to these pages.

 

Finally...

YouTube blogs on the lower right of the home page needs to be more prominent.  Not many users know about the blogs.  A bar should appear at the top of the page whenever there is a new blog (same bar as when YouTube announces that they will be undergoing maintenance or that a video the user clicked on has been removed due to copyright violation).