I think the best course of action in the case of a planet overhaul is going to be some combination of the many ideas displayed here.
This would require a lot of work and coding and take a long time to implement, but in my opinion it would be worth it. Planets really seem like an underused feature right now, and making them this amazing would cure that in a flash.
1. Increased realism of having far larger and far, far rarer planets (as few as three in a star system, and fewer star systems).
ADVANTAGE: Reasonable level of realism and makes planets more valuable.
2. Seed-based fast-generation to save data and save only chunks that a player has added blocks to. Generate ONLY the surface chunks unless something lands or the surface is disturbed by something like weapons fire or mining beams.
ADVANTAGES:
- Will not use much save data - in fact it may use less than the current system which generates entire planets and saves them!
- Ore is replenished when the area regenerates. This could be refined to delete/regenerate abandoned areas after all manmade blocks are removed. This fixes "Minecraft syndrome" where the world near the spawn area is slowly used up and turned into wasteland.
3. LOD compression to hide the lack of blocks in the distance while maintaining frame rate. Any distortions to blocks needed to conform to the sphere happen in this region beyond any loaded blocks. This could be configurable to just having the distance invisible or perfectly flat to help older computers.
ADVANTAGES:
- No need to generate surface when flying at high altitude
- Configurable to perform reasonably on most machines
- Immersion
4. Angle relativity to planet surface (see my previous posts) with no gaps or overlaps between most segments. Ships can be obscured by the atmosphere from above and below (except on radar) to hide the abrupt transition from universe-relative to surface-relative angle from outside observers (angle remains the same for observers onboard a ship). A re-entry effect could be added so it doesn't look like a ship appeared out of nowhere.
ADVANTAGES:
- Immersion
- Fewer or no annoying overlaps or gaps to disrupt construction.
- No distortion of blocks