10) Boxing - If you have a bad enough argument with someone challenge them to step into the ring.
9) Pay Per View Events - There are all sorts of cool PPV events from Wrestling, Boxing, and even Ultimate Fighting on television. In "HOME" you should be able to pay a fee and watch the PPV LIVE with your friends.
8) The Fair - Every so often the "fair" should come to town with rides, events, dare devils, etc.
7) Holiday Events - Virtual Santa Clauses should give out virtual gifts at Christmas, you should be able to go trick or treating on Halloween, able to give virtual roses on Valentines Day, etc.
6) Laser Tag - The name says enough. It should be very possible with the PS3 hardware and not too complicated.
5) Food - Virtual restaurants should exist. You should be able to buy virtual food or click on a link to do an instant search for real restaurants in your area in the real world. You should have to eat virtual food at least once every 24 hours of time spent in "Home." Otherwise, your character should start making funny stomach growling noises. However, if you eat too much or too often you would end up with gas and people would avoid you. (Sony could make money with advertising this way.)
4) Weather effects - It should not always be pretty and sunny. There should occasionally be bad weather where lighting is striking and the wind is blowing against the windows. For example, if a bad hurricane is about to strike a major city in real life they could have a day of hurricane like weather and have public service announcements saying, "Remember the people of so and so city in their time of need. In real life, bad weather has very serious consequences."
3) Vehicles - You should be able to purchase a vehicle, customize it, and drive it around.
2) Sony City - All apartments and starting areas should actually exist as part of this city. In this city there should be streets, parks, roads, rail road tracks, stop lights, tall buildings, etc.
1) FREE ROAMING - You should be able to FREE ROAM from one "starting area" and "apartment complex" to another. You should ALSO have the option to teleport from one area to another. But there should also be FREE ROAMING around Sony City.
Sony City could be where the fair is held once a month, where a virtual E3 like event takes place each year, where exclusive and massive concerts take place, and where you could roam around and meet potentially thousands of people.
Obviously, Sony City would be huge. But it would be broken down into smaller sections. Basically, there would be smaller subdivisions. Each smaller world would be free roaming, but you would need to teleport yourself or your vehicle from one part of Sony city to the other. Hopefully, it would not take more than 30 seconds of loading time.
Also, you could not have EVERYONE in the the same city. That would probably not be possible. Perhaps every geologic region could have their own specific Sony City.
For example, there could be different servers like in World of Warcraft.
In my opinion, this would make "HOME" perfect.