Some observations and suggestions for Starfarer based on something else I loved:
http://www.asciisector.net/That is an ascii based, roguelike space sim tribute to the old Privateer games, with some pretty ridiculously awesome extra features, despite the project having been abandoned for about a year now. The main features are familiar favorites that we all know and love.
Living interstellar economy, commodity trading, working your way up from scratch with a crappy frigate, taking on bounty missions, joining and advancing in guilds and organizations with often conflicting and varied mission structures and goals, interacting with many factions who actively vie for control of each system, intersystem travel, etc.
Starfarer is already has some of this, and is definitely heading in this direction in some of the best ways I could hope for, and even above and beyond with fleet mechanics and much, much better and more extensive lore, customization, and variety.
One thing of particular note, though, is Ascii Sector's aspect of taking control of your character directly, and actually participating in boarding combat, actually walking into planetary colonies and faction bases to directly deal with NPCs, building personal stats and abilities and all that fun roguelike RPG stuff.
It adds more personal detail to the grandiose fleet commander space opera vibe when you know that, hey, you actually are this little guy and you have to work your way through all this stuff on a smaller scale not just behind the scenes, and maybe you have to pull out your blaster and show some pirate scum why you're Admiral Badass who commands the respect of an entire independent fleet.
I dunno, seeing a universe like the one Starfarer is shaping up to be just makes me want to explore it on an even closer level. Maybe sometimes I just have this overwhelming desire to drop shields, ram an enemy capital ship, and zoom into an isometric or topdown view as my marines invade mid-combat and control my PC directly as he fights his way to the aft and sabotages the engines from the inside with a few well placed grenades.
Or maybe sometimes I just want to waltz into a garbage heap of a ship dealership and walk around inside a tarsus before I burn my creds on it, run next door and order some relevant equipment, and then personally contribute to a mining or salvage operation while it's still just me and a couple of green crewmen on that hunk of junk.
Yeah, it's almost certainly too much to ask of what the devs (what are there, like two of you guys?) are already envisioning and working on, if I'm being realistic, but it can't hurt to dream out loud about going that extra mile to space sim perfection.