Late to the party, but here are a few thoughts on the topics that have come up:
1. Pd and concurrency: Audio processing must be separate from user interaction. If you want decent latency, you need to do your audio processing on a real-time thread. On the other hand, the GUI cannot be on a real-time thread. So that's settled :P Moreover, processors haven't gotten faster in a while, but you get more and more of them. So, to stay relevant in the long run, we really want the option of multi-threaded audio processing (bonus points if we manage to squeeze in GPU support). It's not so much about existing patches that don't work well right now; it's more about patches that have never been attempted.
1a. On a related note, it would also be helpful to have support for hardware-specific optimizations such as vectorization. Right now, libpd will run anywhere (which is great), but it's optimized nowhere (which causes some users to abandon it after using it as a prototyping tool).
2. Multi-instance support must happen because that's what it takes to make plugins with libpd. I'm sure we'll see a whole cottage industry of people making Pd-based plugins when multiple instances of Pd become available. I'm also pretty sure that this change would seriously interact with a concurrency overhaul, and so those two should be done together.
3. I'm sort of losing track of all the stakeholders and their agendas. Here's a rough list of players and their agendas as I see them: