Hardcover for one thing...
Yes... Hardcover... black... with a nice piece of artwork on the front that does NOT wrap around the back... so the spine is clean black, with just the title and Hero # visible.
As for content... I'll start with some reasoning.
I'm trying M&M right now... not because it is a better system, but because they made the game so appealing and user friendly. I think the same thing can be done by Hero. See, M&M starts with the basic "super power" concept... say "Ice Power" with real word descriptions of what all it can do... and only then can you, if you want, look deeply into the power and see that it is built by a combination of effects, just like Hero.
Hero does it the other way around. It gives a bunch of generic effects, with very little flavor to them, from which an EXPERIENCED player can build all kinds of "super powers." This is fine... except that it lacks the "Zap" "Pow" "Bing" for new players of simply going... "I want Ice Power... oh, here they are on Pg. such and such..." scribble down simple cost on character sheet... done.
It can work in Hero this way. You should have simple, half page, real language description of powers labled things like "Ice Powers" "Time Powers" "Speed Powers" etc. Give flat costs like 57 pts for "Basic Ice Powers" with simple description, so people can plug and play. THEN, in the back, linked by a footnote, have the actual points and powers in Champions terms... since Ice Powers would likely be a Multi-power, with five or six slots... the total of which comes to 57 pts. or whatever.
There you have clear plug-n-play powers to introduce new players, but all the detailed rules are there... in back... for them to explore as they increase their knowledge.
Show those M&M types that Hero can be just as user friendly by doing some work for them. Make their first glance at a Hero Product a flavorful, interesting and engaging one, so they WANT to play Hero. The rules are in place... now I'd suggest moving away from text heavy, rules laden, minutia crunching... and write for new Hero players who want to jump in and just go.