I think the improvement would be that wallet could be completely encrypted, so to send or accept any transactions, one would have to give a password.
Still, that would not protect against keylogger attacks.
Would it be considered a bad thing for someone to setup a company that manages Bitcoin wallets for people. I don't mean someone with only 1 server in an office building, but more like multiple servers around the world. They all replicate to each other and transfer data securely among them.