Lucid barely left the gates and already the next version is being planned. Currently, there's little more than simple package updates syncing Ubuntu's development release with Debian. We'll only really get to know what's planned after UDS, but already we can hear a few whispers here and there on planned blueprints.
So, what's to look forward to?
Rootless X server - This was planned for a long time really, but never materialised. There's a lot of background work needed to get this going, and with KMS for all open source video drivers finally (mostly) available, attention seems to be heading here once again. More security is always good.
Gstreamer VA-API plugin - Not really an item attached to Ubuntu development specifically, but it's on Phoronix and would be quite a dream to have. With more and more content on h264 there's a real need to make use of hardware accelerated video decode. Here's to hoping.
Right now, there really isn't much to chew on unless you're participating in UDS in some way which I'm not. Another week and we'll know what's on the menu. Currently, it's just a fairly large collection of blueprints on improving various aspects of the kernel.