I would at least make an attempt at respecting whatever cultural/societal/whatever things are going on at the time, instead of forcing my own things on them. For example, because my mom didn't have a computer when she was young, she doesn't feel like I should have one--I would not do that. I like to think that I'm more accepting of what other people like and what they want to do, unlike my mother who's astoundingly selfish.
The one thing that I do think my parents did well was support my education and push me a lot when I was younger. They may not have allowed much partying or social things, which I feel I would personally allow more of (within limits), but I will want to continue the tradition of brainiac kids :P I don't think I'd be overbearing about it, barking at them if they get a 95% and not a 100%, but I would definitely urge them to study up.
This is actually something I've thought a lot about BECAUSE I'M GETTING OOOOOLD ;~; , but when it comes to verbalizing it, I don't really know what to say, lol.