I haven't ranted on Skyrim yet so here I go.
Skyrim's combat is way better than Morrowind or Oblivion, unfortunately it's still pretty damn atrocious. The same problems persists, namely you never know how far away your weapon will actually hit.
Unfortunately the menus, while streamlined and pretty looking, are horribly ineffective. There is no easy way to sort inventory items or arrange favorites by category (armor, weapon, spell(maybe even school), potion, etc); and the perk system while interesting offers no benefit over the previous perk by skill level system (it could probably be fixed by adding a couple extra points per level).
Also a landmark annoyance (armor & weapon deterioration) that I was introduced to in Morrowind and found to detest in Fallout, is finally gone but the game is less fun for it's absence; I wonder who actually though it was a good idea to remove it (just because I hated it didn't mean I didn't like it). To a lesser extent I feel the same way about the Medium Armor category going away.
As a huge fan and lover of Morrowind's, perhaps over convoluted, armor system (pauldrons? really?) I feel the current trend is not good for character customization. For the first time in a Bethesda RPG I don't feel the need, or desire, to search collect and display on mannequins every armor in the game. Or even display weapons.
Armor is just helm, armor, boots, gloves, necklace, 1 RING. Not saying we need Morrowind's every piece but it was a fun challenge to find it all, and it left the player free to do what they wanted.
AND WEAPONS...
Remember when Daedric weapons were:
(arrow, battle axe, claymore, club, dai-katana, dart, katana, bow, longsword, mace, shortsword, spear, staff, tanto, wakizashi, war axe, warhammer)?
now its:
(arrow, dagger, 1h sword, 2h sword, mace, hammer, 1h axe, 2h axe, bow)
Basically for all the impressiveness and size of the game there is less in it overall, at least as far as items and equipment are concerned.
The retooled Enchant system is different, not necessarily better or worse, but definitely easier to understand for a newb to it.
Alchemy is vastly improved with the godsend that is the recipe system but it really calls in to absence the ability to sort. (it can also be amusingly exploited in combo with enchantments to make god armor that allows you to single bare knuckle punch a dragon into submission.)
On my list of TES games it goes Morrowind > Skyrim > Oblivion. I love the game and have already clocked over 40+ hours but for all the advances to the story and graphics it just feels like less. To think of an analogy, it's like filling an order for 1/2lb of extra crunchy peanut butter by piling on 2lbs of barely crunchy peanut butter.
Wow do I feel better having gotten that out... time to go kill another dragon.