To have the ability to remove IMG tags, or replace them with something else when using the Friends view.
Sometimes a friend or somebody on a viewed community will post a large or annoyingly flashy image, which shows when viewing the Friends page. If it's large, it will cause all the text to be stretched out, which will cause the need to use the horizontal scrollbars to read entire posts. (And of course, it can reduce load time)
I think it would be a useful feature to have a user setting to enable/disable the viewing of images. In the place of where the friend's IMG tag is, it could be replaced by a stock linked image or text that indicates, "Click here to view the image, if you like".
Yadda yadda look at my image [IMAGE] isn't it pretty?
* Writing the code
It probably wouldn't be too complicated.. Scan for the IMG tag and do the replacement if the user has the feature turned on in their settings. But I haven't had time to familiarize myself with the LJ codebase yet, so I don't know. :(