I think Status effects, as well as opportunity attacks, and combat advantage to a slightly lesser extent should still exist in the game but occur much less often and be much more devastating.
A few idea completely off the top of my head:
I think that CA should be a noticeable advantage (+5 or more), so much so, that getting CA will definitely ruin your day. That being said, I think it should be much more difficult to get CA, maybe even requiring a few turns, a set of skill checks, or something along those lines.
Status affects should be tied to magical items/abilities or situations; Enemy must grant CA and be bloodied to be stunned by a melee attack.
Also, martial powers should be more like the essentials characters rather than AEDU, and any encounter or daily powers should be tied into situations rather than times per day. For example, the paladin can use his power when an ally within 25' has 2 or more enemies adjacent. Also, The paladin can use his really awesome power when she is bloodied and adjacent to 2 or more enemies.
