I personally think Godzilla should have the saurian stance, not to an extreme, but enough to make him look more like a dinosaur. Let's not forget, biggest grip people had about GINO was he was too lizard like in appearence, so if we can make Godzilla look like Godzilla and add in Dinosaur features, then great, that'd be perfect.
While I don't want him to look like one, I think a good explaination for Godzilla is a species of Spinosaur, they're theropods and have dorsal spines, we don't honestly know for sure if they had the 'fan' on their back or not, so it's a good explaination for what he is, and I don't mean Spinosaurus, I mean the overall type of creature it is. I'd also like to see some agility to him, not a lumbering beast, but I still want him to wade through army attacks, not run from them. I think there is middle ground in the mix of classic and dinosaur traits he could be given.
As for side? I want him to be a force of nature, not good or evil, but just a highly agressive animal. I'd like something where he comes ashore and then he's attacked, causing him to go on a rampage in fury. GINO gave the monster a reason for coming ashore, but it was a bad one. Natural curosity is a motive for him coming ashore (if you'd been sleeping sense the time of the dinosaurs and finally woke up, wouldn't you want a look around?), being attack is a good reason for him to level the city. Godzilla is normally portrayed to be humanity's own fault, why not have the reason he attacks their fault as well? That's also a way to humanize Godzilla without giving him human-like traits, make the audience realize that he's responsible for nothing, he's just a victim.
That's my say.