I completely agree with you that there are workarounds. Currently the best approach I've found is rendering background and foreground plates that I can use in the compositor and do any dof effects there. So much more control than the lens blur or regular blur effects built in to the Iclone engine. It is indeed the true bokeh effects, motion blur and exposure control that I'm after. I can, and do, do these in post. I just don't wanna.
  Say I want to set up an anamorphic shot in Iclone. Currently there's not a way to do this well, at all, in Iclone.  I've tried. A lot. But what if you could choose an anamorphic lens, pixel aspect ratio,  and film back from a dropdown list that would give you all the lens aberrations and  anamorphic DOF that lens actually gives you in real life? Just saving the setup time and compositing work would be worth it for me.

I'm a big fan of doing what you need to do in the animation software what ever package  that may be, and doing the rest in the compositor, but choosing a taking lens that dictates how your shot looks is something I want to do earlier, not later.

Cheers!

TRUE Bokeh simulation? Yes, that would be super AWSOME. 

Exposure control / motion blur simulation would totally knock my socks off. 

This looks kinda vague to me. 

Currenty you can choose the focal lengths  (its like you have infinite primes) and even animate the "zoom" (focal length) to make it like an expensive fixed f-stop (constant aperture) zoom lens.  

You can simulate lens distortion with postfx and other filters in your NLE.. ISO.. you have control of lighting fx & can simulate with NLE. What am I missing?