Enterprise was such a missed opportunity. The prequel could have dealt with Earth's first contact with the Vulcans, the formation of the Federation, the war with the Romulans or Klingons and a number of other things suggested by the other Trek series. Instead it's just more ho-hum sci-fi crap.
Brannon Bragga admits that he has only seen "most" of episodes of original Trek, so no wonder Enterprise fails to suggest any real legitamacy as a prequel. If you gave the prequel project to a guy like Ron D. Moore or if JMS had the reigns from the beginning, both being HUGE fans of original TREK, the show could have been incredible. Both Moore and JMS are not only talented writers who take chances (Moore wrote many of the TNG "Klingon" episodes and also many of the best DS9 episodes including my favorite "Valiant" - He's famous for killing off characters), but they respect Trek lore and the fans. It wouldn't be the stuck in neutral crap that Enterprise has been to this point. And you'd almost certainly get more Trek-specific stories as opposed to the usual stuff on Enterprise, that could take place in any sci-fi universe.
If JMS does someday get involved with Trek, I'd love to see what he could do with the already well-defined races of Trek. Being well-versed in the franchise, JMS would almost certainly include knowledgeable references to previous Trek making him a huge hit with nitpicking Trekkies. He would keep Michael Okuda busy!
Personally I'd love to see a Trek series with more of a balanced viewpoint between the Federation and the other races. You got this with the Ron D. Moore episodes of TNG when you got the insights into the Klingon culture, but I'd like to see a series wide commitment to also include non-Federation viewpoints like this throughout the series run and not just in a sequence of episodes.
What type of Trek story would you guys like to see? I'm partial to the Romulans myself, so a Romulan arc would be of particular interest to me.