Hopefully they add Morrowind levels of immersion.
e.g. Person A gives you a quest to find item x from Daedric ruin y. There are no map markers so you get directions instead. The directions are as follows; leave the town/city of person A via the west entrance, follow the path north and take a left, you should see a steep hill which has the ruin on the opposite side of it. You follow the directions, get lost and backtrack. You follow the directions again, get lost again and backtrack (again). Finally on your third attempt you make it to the Daedric ruin and rejoice, surrounded by the beautifully surreal (or surreally beautiful) architecture of said Daedric ruin.
The brilliant thing about Morrowind was and still is, is that even though you would be lost most of the time you would still be enjoying yourself.
That is so absolutely true! I loved Morrowind because of that and made completing quests much more rewarding and added a lot to immersion, but I suppose that noobs and console kids would be lost forever and quit the game to cry a little bit. When I first played Oblivion I hated it, I was highly dissapointed because of how that works. I actually stopped playing after a few hours, but I ultimately returned and ended up loving it. I hope they implement both methods in Skyrim (i.e NPCs say more than "I'll mark it on your map" or some generic direction), so that you can disable the compass and keep the compass for kids.
Also I hope that fast travelling is eliminated and we see a return for mark/recall/intervention as well as striders, boats etc. They can just add more of them so that you can use them more frequently. The game having dragons, levitate/jump/slowfall is a must too.
Another thing I would really like them to borrow from Morrowind is how magic works, based on a success system instead of a perks system. I loved how being low level you could still try some crazy spell with 3% success probability.
And that's my wish list for now, Santa. Bye. Haha.
EDIT: I just realized that I want Morrowind with new graphics and AI. lol. As good as TES IV was, because it is an excellent game, but as good as it is, Bethesda, please just send TES IV to oblivion and bring us Morrowind 2011, a.k.a. Skyrim.
About the leveling thing on Oblivion I don't think it is so bad actually, I like the idea of leveled enemies*. The difficulty settings is complely fucked up though. At 100% difficulty you deal 1/6th the damage and receive 6x the damage, that's a 36x dissadvantage and is just ridiculous... At 90% 5x and 1/5, 80% 4x and 1/4x and so on. I don't know what they were thinking about. But the idea of finding more powerful enemies is good IMO, there should be more non-leveled ones on important quest related stuff. Borderlands does it decently IMO.
*The chances of finding daedric/ebony/glass items should be far lower, although they should be far better like in Morrowind. I still remember the first time I found an ebony piece of armor and thought "OMG it's like 3 times better and costs 10x wow".
Also how tempting was to kill an Ordinator to get his armor... but you had to remember you could not use it in Vivec. Aaah Good times playing Morrowind.