I wouldn't mind it. I'd redo the economy and filter more money into it, fix healthcare, etc etc. Even if I was the 'total' ruler I'd still allow a democracy of sorts, except they'd be voting on lesser things like congress and laws and shit. I think I'd make sure that major law people weren't corrupt and I'd also legalize gay marriage EVERYWHERE.
I'd also pass a law that protects the sanctity of the internet so people can't censor it in the USA. :/