While I've only participated in a handful of podcasts to date, I always find it to be an arduous process. Getting the thing recorded with multiple participants, editing the file, adding your own music, etc. and finally uploading the result to a properly formatted feed takes several different applications, a good deal of effort and even more time. An Apple-branded application that would do much of this for me would be most welcome.
Imagine an application tightly integrated with the existing iLife apps. Select photos from your iPhoto library or even URL's from your Safari bookmarks to easily add to your enhanced podcast. Create and utilize theme music with Garageband and upload the whole shebang with a simple click. Let's keep our fingers crossed.