Zen Bard said:
1) Set it in Hammerfell - We've seen a standard fantasy environment, weird alien world and a cold Norse-based land. I've yet to see a good fantasy set in the desert in the 1001 Arabian Nights vein.
"Three" is not the same thing as "one". Want a chunk of Hammerfell? http://www.elderscrolls.com/daggerfall/ Want the whole thing? http://www.elderscrolls.com/arena/ And Redguards, culturally at least, are a lot closer to Berbers than Arabs- which could make for several fascinating stories in itself.
As to what I want...
Bring back the good parts of the series that were dumped to make Morrowind. More Bethesda, less Zenimax. Focusing on a single province let you bring it more to life; Morrowind whupped its predecessors in that field; fair enough. But pretty much everything else was a blatant dumbing down.
-Bring back different skills for different weapons- there's a lot more difference between swinging a broadsword and stabbing with a rapier than there is between firing a shotgun and firing a sniper rifle. If you wouldn't put those two weapons under the same skill, you shouldn't do it with the swords, either.
-Dial back the level scaling. Want to poke around Castle Sentinel at level 3? Good luck fighting Vampire ancients! It worked before; it can work again.
-Bring back (and expand on) non-combat skills- pretty much everything from Morrowind on out was either "things to do while fighting" or "things to do while preparing for fighting". Asking for languages to make a comeback may be a bit much, but climbing, running and swimming were a good start; give us mantling and let us not only explore more, but find ways to
avoid combat that don't rely on a generic "sneaking" skill.
-Give us a spell-making system again. Was it game-able? Absolutely; any sufficiently complex system is. But the ability to fine-tune your creations added a great deal to character flexibility and let you get into all sorts of interesting trouble.
-Bring back the 3D dungeon maps. You've moved beyond Morrowind-style pocket dungeons; good. But if you're going to not only make dungeons of a decent size, but make vertical puzzles of them, the least you could do is it make it clear that that's what you're doing; the super-advanced technology of 1997 should not be beyond you.
-Get rid of the damn quest markers. Poring through an enormous dungeon, looking for a single sheet of paper that had the same graphic as uninteract-with-able background junk was a pain in the butt, and we still did just fine without them. Those graphical issues are gone; the brainless solutions to them should be, too. All it does it turn every task we're given into a fetch quest.
-Let us make notes on our maps again. It's not necessary now, but would be with the other changes I've suggested.