Better usability
dragging a calendar event without triggering the save dialog box
drag to increase duration of appointment (not dialog box)
15 minute increments for appointments.
right click editing of events
ability to add color to individual events

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Y commented
Especially 2) and 3) are very important to me.
For 1) I would like to click in the middle of an event and drag it anywhere without needing to click again to confirm, but that's not a major pain point.
For 2) If I click on the edge of an event I would like to only drag that edge to the new end time without changing the start time, and vice versa.
For 3) When dragging to change the event duration it really matters to me to be able to snap to 15-minute increments, not only 30-minute intervals.
5) is now available (yay!), and I don't understand what 4) means.
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MysterTaco commented
100% needed! Would definitely flesh out this product to a fuller more developed clean experience. :)
I'm constantly blocking out my calendar, so the ability to snap upon 15 min increments, and drag event duration would help tremendously.
All of these features are what I miss most from Google Calendar.