I like, with qualifiers, alternate rules and character options.
Adventures? They almost never fit into the world I have going and are usually more hassle than it is worth to work them in. Settings? Well, I've picked up a few that I like, but not many, and I never run a world "straight" anyway. Sometimes equipment is good, but most of the stuff I have seen doesn't excite me that much.
Most rpgs are about the options the players have available to them. While I do not allow every variant class, etc., into a game (highly selective and almost invariably a very closed list once decided), I do like to look at the options, particularly in terms of Feats.
Alternate rules are probably my biggest interest. When I look at something like
Blue Rose,
Arcana Unearthed/Evolved, or
Iron Heroes I feel like I am looking at gaming in a fresh light. As such, such variants excite me and my players -- new ways of handling old problems, getting rid of concepts that annoy us, finding alternatives to set pieces. New magic systems, new combat systems, new ways of looking at the concepts of Feats, classes, alignment (**ergh**), and the like is what really floats my boat.
