They definately have room for at least one more Freddy. Sideshow kinda screwed up their Freddy's sweater. I would LOVE to see an all new freddy based on his appearance in the original film.
He needs a new sweater made out of a better, more realistic type of material, like the medicon version. The fraying would definately have to be more subtle, and the sleeves would have to be stripeless.
He could also have some kind of extendable arm feature, and a removeable face that reveals his skull.
Top that all of with an all new sculpt and a darker paintjob, to reflect the perfect version of Fred Krueger from the original Nightmare on Elm Street!