What else in particular, if anything, do you envision for such a creation?
Oh, and is it that you believe 3e's classes and/or races to be pumped up, or (as I suspect) Pathfinder's, as opposed to 3e's?
Sorry I didn't reply sooner... I don't hang out on these boards all that much (I usually pop in for a quick check on the latest threads and skedaddle).
I do think that Pathfinder needlessly pumped up all of the classes and races, often in ways that I didn't agree with, but still think Paizo did a good job of reinvigorating D&D 3.X.
What I'm looking for is a game that is easily learned and fast-paced... even at higher levels. 3.X and Pathfinder are both rules-heavy games that are good at providing a rule for nearly every situation, so I'd like to see a leaner, meaner d20 game that still looks and feels like traditional, Basic D&D. Microlite d20 is a little too spartan for my tastes.
Here's a quick break-down of what I'd like to see in the 1st boxed set:
Races: Humans, Dwarves, Elves, Halflings
Classes: Fighter, Cleric, Wizard, Thief (later boxed sets would expand on these with "prestige classes" such as Rangers, Paladins, Druids and Assassins)
Levels: 1-3
Alignment: Lawful, neutral & chaotic
Use d20 unified mechanics for combat and ability checks (include 3 save categories).
Include a simplified skill bundle system (Perception, Stealth, Persuasion and other broad-reaching skill sets for characters to choose).
Eliminate feats but allow for combat maneuvers and styles such as 2-weapon fighting and finesse fighting.
Eliminate AoOs in nearly every situation.
Eliminate various, named modifiers and stacking effects.