Would be great if we could use the Favorites to a new level on the PC by assigning hotkeys to certain combinations. As someone who plays a mage it kinda svcks to constantly be rifling through menus swapping out various combinations. Would be great if we could just assign "1" to (for exmaple) equip a bow and say 2 to equip a sword/shield. Same goes for spells, like "1" would be say Sparks in right hand and Healing in left hand while "2" would say be Candle Light in Left hand and Sparks in Right Hand and "3" would be Conjure Flame An L/R hands so on and so forth. This would allow us to hot swap between favorites without having to dig into a menu each time for every tiny update (especially when you got Alteration Buffs mostly lasting 60 seconds base...).

The mechanics would be pretty simple. The base favorites would stay exactly the same as they are now, the only difference is that once you open up the Favorites menu when you press 1-0 that combination will be saved. So for example I want to set up Conjure Flame An in L/R Hands to 5. I would open up Favorites, select Conjure Flame An in L/R, then press 5. This would save this to favorite 5 so once I close the Favorites menu 5 now equip those two without me digging into a menu for it.

Would be nice to see this in a future release or maybe a mod if it's possible to mod something like this (I wasn't sure).

You can hotkey on PC already. Press 'Q' to open up your favorites, and then hold a number on whatever you want to favorite for a second or two. You can hotkey 1-8. I rarely even open up my menu just use hotkeys.