I haven't seen any media engine improvements so I thought I would add my two cents worth .
I reckon the sound and music envirement in a game is just as importent as graphics and the like.

Surround sound support. eg:If a monster was behind you the his growl, grunt would be directed to either left or right rear channels.

Enviromental sound suuport. Eg: Players footsteps would have an echo effect if in a tunnel or cave.

If there was a shoot out type scenerio the battles would be heard all around not just from the front.

Just a few ideas, there are a lot more things but I thought i'd plug these few to see if anybody else thinks the media engine could do with an overhaul.