The problem with housing in Wow is that people are taken out of the cities because of it... The reason why there is no AH in shatt is because nobody but lowbies would populate Azeroth.
I support the idea of a guild hall, it would help knit guild members closer. Plus it'd be neat if the guild hall was a place to display your guild progress. Adding a new trinket for every downed boss would be nice.
But, beyond a gathering place, i think that a guild hall shouldn't do much else... maybe ports to your favorite instances or city, maybe a dueling ring with some heals for after the fight... each carrot tied firmly to a stick (quest not cash)
I would avoid repair/vendors, that would make one less reason for players to visit the city and i am pretty sure that is the main reason why something like this hasn't been implemented...

Guild halls should grant solitude... a good time to discuss without being spammed with general or trade chat... if you wanna engage in trade, go to the city
It'd be a place to invite prospective recruits to let em know what your guild is up to... only guildies and people in parties with guildies could enter...

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