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Implement support for Max OS X 10.7 Lion, full screen mode. This would vastly improve the usability and integration in Lion.
It is in the last beta. It's an option you can select in the preferences.
I'd like to have it as a separate shortcut, because I have two monitors and the Lion fullscreen will only use my main monitor and the other monitor is blank then. Sometimes it is what I want to do, sometimes it's not (like having it fullscreen on one monitor with another app on the other).
Switching the option is bothering me, I would very much prefer two shortcuts, say Cmd+Enter for normal (old-style) fullscreen, and Cmd+Shift+F for Lion-style fullscreen mode.
I have a similar request to the previous comment, having dual monitors, but also laptop with only one screen, I'd suggest to leave the preference and have it indicate what CMD-ENTER performs, and have the other non-preference-selected option be performed by CMD-SHIFT-ENTER.
Also, fullscreen doesn't work with iTerm in Lion at all. The menu item is grayed out, and CMD-ENTER does nothing (Build 0.10)
I almost switched to Terminal because of this ... then the lack of proper bookmarks brought me back to iTerm :)