I favor romances. My wishes are these (keep in mind they are only wishes, I understand some things could be too complicated and time consuming to include):
One, I'd like that the orientation of the LI is their own and doesn't change based on the sex of the PC. Two, I'd like it to be possible for there to be minor disagreements in the developing relationship that don't necessarily break the romance, because really, everyone squabbles. It's not the end of the world. Three, that the romance isn't dependent on the LI bringing it up- I'd like the PC to actually have to do some legwork here and be able to initiate interactions... actually, I'd like that for both friendships and romances... and four, that even if the romance isn't directly tied into the main game and so its major development ends before the game does, there can still be some small player forced or timed interactions to remind the player that their PC did engage in a relationship. Or maybe interactions with non-party NPCs that remind you- some random guy or gal hits on or threatens or what-have-you at the PC and the LI reacts.
I'd like it to be possible to have friendship and romance paths, meaning that if a romance is declined, a separate and distinctly developed platonic relationship storyline can occur if you choose to spend time getting to know the NPC. Or maybe a declined romance could spiral into a spiteful, undermining party member who stabs you in the back later in revenge or jealousy of a romance that you DID accept.
As far as the actual romance stories themselves and saying things like "PLEASE DON'T MAKE IT CHEESY" and whatnot... I leave it to the writers. I've got faith in their ability to weave satisfying stories... sometimes cheese can be endearing if done correctly, you know? I just wanted to include what I'd like to experience in the course of the game after having played other ones.