For those that would like to have items on hotkeys 1-8 like you did in Oblivion, there is a way.

All you have to do is have the spell or weapon in favorites.
Open the favorites menu and highlight your selected item with the mouse and then press 1-8.
The number will appear next to the item and will be accessible by pressing the corresponding number at any time.
1 press will get you an item in your left hand and a second will put it in the right.

Hope this helps some of you that thought the feature wasn't in the game at all. It's a but clutchy, but it works.

Well yeah, this was in the manual.

Then people should stop [censored]ing and read the damn manual

Agreed. I just noticed that there has been a LOT of complaining about not having hot keys and figured I'd be nice and point it out...lol

So few people actually bother with the manuals for games and there is usually something worthwhile in every single one of them. Imagine that.. good info in the official manual.