Dear bungie, as you can clearly see from the title of this post, i and the community feel as if sparrows need some reworking. Now personally, i wouldn't care as to what you might put in your game, so long as its not well original d2 mercury levels stupid (i understand why with activision and all that), but here are some suggestions.
200 speed exotic sparrows
Sparrow customization (ie. Horns, ornaments, maybe even some fun weapons)
Sparrow mods (similar to the current mod system) and by extension masterworked sparrows
And for my final suggestion, and an improved sparrow racing league (a better experience for SRL veterans, and a good introduction to new lights)
Thats all i have.