I would personally like to see a rules-light version of the game, but it sounds more like it's just going to be a restated version of the existing rules, made to cover levels 1-5, with full compatibility with the existing game.
|Mockup of the future box set|
If nothing else, perhaps it will actually become more viable to get new players into the game without all the handholding that is currently required. Hopefully it will include some fast character generation options as well, as we have found that the biggest game-killer can be when someone dies and has to make a new character. You might as well kiss the rest of your session goodbye at that point.
In my home game, I think I am going to try a new house rule where if your character dies, you make your replacement character using microlite20, and can convert it to a full-blown PFRPG character after the session is over. This will also give me a chance to see if Microlite20 characters actually hold up balance-wise beyond 1st level, as the party is currently at 4th level. I suspect they will not, but since they will only be used as a temporary band-aid, it doesn't really matter.
Now, the next thing I would like to see Paizo do to help me keep my sanity is Basic Monsters. One of the biggest pains in the ass being a Pathfinder DM is having to study up on all the monsters before a session to ensure I am familiar with their abilities so I can use them effectively in play.