Remember: If you were dealing with 10 years prior to SatAM, you'd have a group of 5-year-olds. That wouldn't make for very interesting stuff, for the most part.
Not necessarily. 5 year-old kids themselves, probably not as interesting. However, there is lots of potential for that time period. What was family life like for the kids before their lives got turned upside down? What skills or professions did their parents have? How did the Freedom Fighers learn all of their skills (parents, or other influential Mobians who escaped?)? Exactly how / when were their families taken away from them? Were there any other anti-Robotnik groups before the FF that maybe inspired them when they became old enough to fight themselves?
Another aspect I'd like to see explored is the extent of Robotnik's control over Mobius. The original cartoon only gave us a slice of life on Mobius. How much of the planet is under his control and is suffering from his reign? Are there any other nations / countries / kingdoms fighting off his presence at their borders? Any other groups rebelling against his control elsewhere? Any other humans on the planet (as well as why, and how did they get there?)?
I'd also like to at least see events from Sonic 3 & Knuckles incorporated. The Chaos Emeralds could be fun if implemented right. No overused plot device stuff here, folks. Also, no lame Super Saiyan or Rainbow Epilepsy Sonic (Hyper Sonic) crap. Keep Angel Island. I like the idea of a mystical island kept afloat by an equally mysterious gem. The effects of the energy from the Master Emerald could also produce some very fun and wonky things on the island (such as a way to explain it's many varied climates from volcano, tropical paradise, desert, arctic conditions, etc. found within that small area...small compared to the rest of Mobius, of course). It would also provide a large variety of different climates for characters to explore. I also like the ideas being tossed around about the Chaos Emeralds being something you do NOT want to mess around with. If done right, it can incorporate elements from the Echidna civilization that appeared in Sonic Adventure & Sonic Chronicles - ancient echidna civilization uses the power of the emeralds for some purpose, **** hits the fan, in a big way, civilization left in ruins, any remaining survivors scatter across island in isolation to slowly disappear from history. No X number of Sonic characters using Chaos Control to their heart's content for plot devices or abilities. No emerald-powered "every day" machinery a la the Tornado in Sonic Adventure. Emeralds = Serious Business. Like a Deck of Many Things on crack.