Ok, since 1.2 is definitely going to have a new terain generator, there is something that really needs to be fixed. Now, imagine this, your out mining, when suddenley, you spot diamonds, however, there're right by a pit of lava and you don't have any water or disposable blocks. Even with noclip, I find diamonds ALWAYS by lava, usually under lava, making it dangerous to mine. So I say that for 1.2, diamond generation should be fixed so that you find diamonds less often by lava. Please, for the sake of miners everywhere, this should be fixed.
A torch a day keeps the monsters away!