First thing id like to see? a DBO server up and running without any bugs. I'd be happy with that.
That's a lot to ask for haha. No mmorpg is ever free of bugs at any point in time.
That being said, I agree with you. Stability before anything else.
My opinion is that you guys get combat/skills and monsters working first. Once that is stable, go for other essentials like quests, guilds, friends list, items and probably flying asap.. simply because people might rage quit otherwise.