I've thought about this very thing (a +1 to the critical modifier) as possibly a feat. I've done a minor analysis of the effects of multiplier and threat range. Basically, the way I did my calculations are as follows: A 20/x2 has a 5% (0.05) chance of doing damage x2, and 95% (0.95) change of doing damage x1. Correct my math if you see any mistakes:
1) 20/x2 weapon: 2x0.05+0.95=1.05 average damage multiplier
2) 20/x3 weapon: 3x0.05+0.95=1.10 average damage multiplier
3) 20/x4 weapon: 4x0.05+0.95=1.15 average damage multiplier
4) 19-20/x2 weapon: 2x0.10+0.90=1.10 average damage multiplier
5) 18-20/x2 weapon: 2x0.15+0.85=1.15 average damage multiplier
Let's increase threat range:
1) 19-20/x2 weapon: 2x0.10+0.90=1.10 average damage multiplier
2) 19-20/x3 weapon: 3x0.10+0.90=1.20 average damage multiplier
3) 19-20/x4 weapon: 4x0.1+0.90=1.30 average damage multiplier
4) 17-20/x2 weapon: 2x0.20+0.80=1.20 average damage multiplier
5) 15-20/x2 weapon: 2x0.30+0.70=1.30 average damage multiplier
Now let's increase the multiplier:
1) 20/x3 weapon: 3x0.05+0.95=1.10 average damage multiplier
2) 20/x4 weapon: 4x0.05+0.95=1.15 average damage multiplier
3) 20/x5 weapon: 5x0.05+0.95=1.20 average damage multiplier
4) 19-20/x3 weapon: 3x0.10+0.90=1.20 average damage multiplier
5) 18-20/x3 weapon: 3x0.15+0.85=1.30 average damage multiplier
Now let's increase both:
1) 19-20/x3 weapon: 3x0.10+0.90=1.20 average damage multiplier
2) 19-20/x4 weapon: 4x0.10+0.90=1.30 average damage multiplier
3) 19-20/x5 weapon: 5x0.1+0.90=1.40 average damage multiplier
4) 17-20/x3 weapon: 3x0.20+0.80=1.40 average damage multiplier
5) 15-20/x3 weapon: 3x0.30+0.70=1.60 average damage multiplier
If Improved Multiplier was a feat and you had the choice of taking either that feat or Improved Critical, the latter would mathematically be superior (in some cases), though obviously taking both could be quite fearsome. I didn't take into account keen weapons, though. I welcome comments on my math and what effect you think having that new feat would mean. Ok, this could've been put into house rules, and I may copy it and paste it there, but it seemed appropriate to this thread.