In OB I would have at least 5/8 directions dedicated to spells for combat and the action never had to stop for me to switch them. The hotkeys in Skyrim are so broken that in order to switch using the hotkeys you basically can trade out two spells. But it can take several extra presses as the spell goes from R-L hands and so if you're just trying to get a restore health into your left it can be like three hotkey presses, then your ONE destruction spell needs another press to get back into right hand.
Sheesh.. no fun at all. I don't get the favorites menu. If we love the 'A' in Skyrim why slow it down into a crawl by pausing to a slow, composited menu to show selections?
Because of this I haven't gotten past 12 hours with my mage. I took him straight to college and through the MG questline and I was like "[censored], its over already?" Remember how awesome the MG questline in oblivion was? First an apprentice, then do stuff all over the place. etc etc..
And we won't even get into Morrowind. I think finding the damned mushrooms for whatsherface in Balmora took me longer than the whole Skyrim quest line

I am already reaching again to replay OB or FONV instead of Skyrim. Once you do all the main quest lines changing your character to re-do them is really not as much fun. I'm also replaying MW and its awesome becuase it has been so long since I played that lots of stuff is forgotten and fun again or epically nostalgic. Man just the table of faction dispositions for MW is jaw dropping. And Skyrim's role-playing is progress from this?
And the MG questline in Oblivion got one thing right and that was the ranks. Other than that it was horrible. The plot was horrible and didn't get me to involve much.
I would like more hotkeys though but it's not a game-breaker to me.