Hi. I haven't played the latest version of The Elder Scrolls... but I do love Oblivion... and here are my comments and suggestions:
1. Party System (w/ gambit system / anything new):
Playing is much more fun when you have company... a good company.
In The Elder Scrolls IV: Oblivion = I have a 3-man-party me+the fan from the arena+1 archer from the black brotherhood. honestly it is one of the dumbest party, the fan from the arena will instantly die, the archer?! - damn archer keeps shooting his arrows at my behind...
-----example of a great party is: the party system of Final Fantasy Xii
2. Staves / Wands
I am a big fan of being a sorcerer... and i really love wands / staff / staves... i like my wands to be golden... and maybe with a gem...
the staaves / staff of mages in The Elder Scrolls IV: Oblivion were... uhhhhmmmm rather looking like twigs with roots??
------ example of great wands / staffs are the ones of Khan Online
well, i learned to love being the a knight because of The Elder Scrolls IV: Oblivion..
oh well... where are the capes? i mean great knights have capes...
------- example of cool capes of knights (especially Emperor Cape): Khan Online