Well, the smart thing would be a fast travel system that allows you to travel from anywere, but you have to have travelled to your destination at least once before.
Also, I want a good vampire with the ability to embrace selected individuals (a cap would be needed, so that it doesnt get too rediculous), maybe I could create a guild with its own guild meeting spot. Maybe I could even create my own guild in the next Elder Scrolls?
Also, if your going to have a story that tries to include epic battles and citys of wonder... Have the curtain match the drapes! I dont know about anyone else, but when defending Bravil from the main portal, the mighty army of the Emporer was only a small band of around ten people. Please, avoid that sort of thing.
Make it so that combat is overall more involving and accurate. Maybe when fighting, I could kick a goblin onto a spike or do other interactive movement? Maybe a spell could alter my environment, so on a narrow ledge undead would slip to their deaths from a thin sheet of ice. Oh, and ranged weapons could be more diverse.
Diverse monsters, a dungeon basically came down to this: either bandits, undead, or animals. Where is the uniqueness in that? Say, where are the unique dungeons that arnt quest related? Maybe I could come across some sort of abondoned city in a cavern? Maybe a sort of friendly elven glade in a desert? Soemthing unique, please!
Get rid of the illusion of choice. Most quests required me to finish it by going "do a, then travel to b, collect fame and gold". Why coudldnt I decide to simply take the treasure for myself and have the quest complete? Also, I want these quests to effect my later adventures, like offering myself as a knight could lead to jail as a survivor of my latest massacre steps forward to accuse me? More of that, please.
The one thing the next Elder Scrolls needs, more than anything else, is a level cap. Playing the game, you could reach a very powerful height indeed. But, if you use magic, then your basically untouchable. Whats with the 100% chameliean? Make it so that your character can still be challanged as you play.
Random events are a good way to entertain people, as they are unsuspected and random. But dont force people, it could turn on you. So, maybe you could help someone who is being threatened by thugs or join a militia to kill a local monster? Maybe the daily tasks of NPC's could be more varied, as I have never seen a farmer farming.
Intelligent A.I., particularly enemies. How about that when I enter a room, every enemy could not focus on me? It seems strange that a bandit and tiger would work like such a team to kill old me, and speaking of age...
Maybe time could progress in game? Maybe it could be like Fable, but have it as a option that could be disabled. Or, another handy feature of Fable 2...
The ability to start a family. It seems to me that a selling point for Fable 2 is that I can start a family, and they can be killed by your enemies (or even yourself). How immersive would that be, to come home and find your nemesis has just butchered your love and child? How would you react? What if, instead you werent just fighting for yourself, what if... you were pregnant? To me, this seems like I'm not just fighting for myself, but for some piece of code that proceeds to draw me into the world even more.
Well, I hope you enjoyed my rant. I hope that I havnt just repeated earlier thoughts and tips.