That's pretty much what it's like in Oblivion, how could they have missed that in the review?
Don't ask me, maybe they didn't checked the manual.
So what, you hold the hotkey then click the mouse?
First you put some item/spell into favorites list, next you click LMB or RMB to equip it and finally you hold one of hotkeys (1-8) to add it.
From now on, after pressing the specific hotkey item/spell equips automatically.
Furthermore, you can add combos like shield+weapon into hotkey or two different spells, all in one button.
Hope you get it now
