As a disclaimer, I realize that I'm suggesting what may be nigh impossible. However, this is speculation on the hypothetical effects.
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The plot of Spiral Knights is centered through its fighting stages and its dialogue in the form of text boxes and occasional animation. Text to represent character speech is fine; actual voice acting for certain characters would throw me off a bit. (I picture Lt. Feron to have the Portal 2 Adventure Core's accent, but that's beside the point)
Therefore, if the text is fine, then the only thing we have left that would convey more to the story are cutscenes. Granted, we already sort-of have them, most noticeably Schemer Razwog's and Herex's scenes along with the ending of Save Winterfest, and they're ok for the game. But what if there were more to it than what we have?

I'm thinking along the lines of a media generator like Source Filmmaker. If Spiral Knights were to make smooth scenes with a media generator, make dynamic camera angles more existent, and include them in the game at key points, just imagine the emotion that could be portrayed. I'm talking about your Knight and its party leaning over the railing at Depth 29, through the smoke and flashes of lightning at the sealed hatch of the Core, in wonderment at the dangerous majesty of it. I'm talking about Lord Vanaduke recounting his lost Kingdom, becoming more and more agitated by the allied armies' destruction of Almire followed by his own, and then finally realizing that the metal-clad invaders that have dared to breach the defenses of the Firestorm Citadel are standing right behind him. Things like this could set an emotional stage for what was before a normal run through the Clockworks.

Thoughts?