I think 4G is a good limit. If we can get 2.5G+ from tyres alone next year, we can easily get to 4G with the new aero regulations. This is a good level as most of the awe of an F1 car comes from the cornering speeds.
What I don't like about current cars is that they don't look like they have much power. The power they do have does not overwhelm the tyres or aero by any great margin (except at really low speeds) and the cars just seem to be on rails all the time. This makes the spectacle less. I fear this is only going to be exaggerated next year when tyre grip is increased twofold.
I feel the problem lies in the engines themselves. Whilst they have a good amount of peak power (750-800BHP), they really lack torque so they are normally within the constraints of the tyre's grip levels. We need a torque increase, not a power increase. KERS will help with this but it is not at available at all times. Even the V10s had more grip than power but it was a much better spectacle. I want to see the drivers fighting the power more! These things are some of the most powerful circuit racing cars in the world (well, they are pretty much #1) yet they look as docile as an F3 car.
What I feel would be a possible solution is to do what the FIA did with WRC - limit peak BHP but allow torque curve optimisation. Say they limit to 850BHP @ 19,000rpm power limit (a great figure for both performance and awe) but still allow engine development, we could see much, much better torque figures making the cars a handful.
Well, one can dream