Paragraph and character styles, please!
Why can't we create/modify paragraph and character styles with a format pane as robust as Word? Header 1, Header 2, captions, custom bullets et al that don't have to be reformatted over and over again would make things so much faster, consistent, and easier. Your end user is familiar with paragraph styles in Word, give them a little credit to be able to use them in PowerPoint as well.
Michael Vlietstra commented
It's obvious that PowerPoint developers do not actually create presentations otherwise this feature would have been added a long time ago. There's an application called Microsoft Word, you should look at it some time to see how paragraph/characters could actually be used. I've been using software applications for more than 30 years and it's mind-boggling these companies don't hire actual users as part of their development teams.