By the modern standards of human rights an Islamic State founded along the 7th century teachings would be anti-women, anti-sexual orientation choices, and anti religious minorities.
Islam codified and extended what was even more brutal in the New and Old Testaments. However, in the 7th century some of the Islamic ideas and ideals were truly 'liberal' and egalitarian. Eventually Islam was an empire. Much like what was before Islam and much like what was after the Islamic zenith.
As far as my personal preference for an Islamic state... If that was a choice it would be a Sufi-oriented Islamic state. Much like what Pakistan was up to the early 80's. No extreme of anything. Much charity. No distasteful 'liberalism'. Not too much religion.