I'm indifferent to TMs, honestly. Just as long as they continue to have multiple uses I'm happy with whatever they decide to give us. The elemental punches as TMs would be interesting though, as would higher-powered moves like Blast Burn, Hydro Cannon, Draco Meteor etc. I suppose it'd make move tutors obsolete, but I'd prefer to use those to learn egg moves or things like that.
I'd prefer HMs to become abilities you can teach your Pokemon or something, rather than moves you use in battle. It'd just be so much more convenient, because pretty much every HM that isn't Surf or Waterfall is next to useless in battle, and an irritating waste of a move slot. If they're going to keep HMs, they could at least make them moves I'd want to teach my Pokemon.