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Press conferences after every game seem pretty repetitive after the first five games. The reporters all look alike, ask similar questions, the player wears the same thing everyday, etc.
My suggestion is improve everything, give more choices for answering the questions, do locker-room interviews instead of a press conference sometimes, allow the player to wear different clothes and for the love of God, remove his headband while showing him walking into the game in a suit.
Another part to this is the player voice. Other games such as Def Jam give you the option to pick from multiple voices, they should do that here.
One area which they could upgrade is sound effects. The generic cheers and sounds from the crowd gets annoying because after playing the game for hundreds of hours (yeah I have no life), you actually notice it's the same old sounds over and over again.
The suggestion here is to add more generic sounds, cheers and boo's, and try your best to make it realistic (in 2k11 when the crowd boo's and chants "trade him" it sounds terrible! No real crowd in basketball games are comprised of 100 percent men).
One update which would make the "Fame" factor deeper would be the ability to go to certain events. These events would help your players Fame, but the downside could be missing a drill/practice opportunity. This would probably be very generic and not specific to any real world events just to make it sound reasonable.
The improved Media in 2k12 will work well with Fame, and other dynamics of the game.