Open cities
Expanded Magic; More spell effects, more magic types
Necromancy guild
Non nerfed Two handed weapons
Real dmg stats (morrowind had weapons that did 120 base damage, oblivion weapons had stats like 6 dmg, as it was based moreso on your skill than the weapon, HOWEVER even if you suck, a daedric weapon from HELL should never do 14 dmg, no matter how much you suck at blades)
no stupid leveling of items and creatures, if an items good, its good whenever you find it, at whatever level
Bring back extra clothing/armor slots; right pauldron, glove,robe over armour, clothes under armour .etc
more guilds, and longer faction quest lines in general
oooh, lichdom! muhuhuhahahahaaa
heh no more ridiculous comments; every town guard: "look at the muscles on you" seriously, who says that?
lastly, add some interesting characters, with more to say than "i saw a mud crab yesterday...blah,. blah". Characters with depth; like Morte from planescape