I'd like to make a few new additions to your list:
 
6. People would have more time for play.
7. It would be mandated that people should keep candy in their purses for
   the sole purpose of being stolen.
8. The living room floor would consist of dirt which ferrets would be
   encouraged to dig up.
9. It would be mandated that humans have at least three loads of laundry
   in the closet in which ferrets could tunnel around in and that ferrets
   could steal.
10. There would be no more collars with bells... imagine the mischief
    that would ensue.
 
Jessica, Bill and Maggie the ferret :)
[Posted in FML issue 3713]