I like them both, but for different reasons. I found Morrowind to be much more immersive and interesting to explore, but the combat is much better in Oblivion in my opinion (I like die rolls in D&D games, but it just doesn't work that well in an action RPG).
I'm hoping Skyrim will somehow blur the lines between the two.
I'm hoping Skyrim will somehow blur the lines between the two.