Two things:
the ability to define a profile or bookmark as full screen (probably better to do at the profile level, as that's where rows/cols are set, and those settings would be best disabled when set to default fullscreen)
And better handling of the confirm dialog. Have it so that if you have no sessions, it doesn't ask you before quitting
Great ideas! Iterm is no longer supported. Please reopen this bug in iterm2 at http://iterm2.googlecode.com