What an awesome game! I'm enjoying every minute of getting lost in this world.
My one small complaint is the lack of detail in the quest log. After a few hours/day I could use some more specifics to remind me of why I'm supposed to go here or talk to this person (this is one thing that Oblivion did a great job of).
Yep, I've stopped picking up quests I stumble upon until I clear my journal out some more. If I pick up too many up I'll never remember what they are all about.
I'm glad that we can turn all quest markers off if we so choose. I'm also laughing at the people who were mad that Bethesda didn't have an option to turn the compass off. You can if you turn your HUD opacity all the way down. Only problem is you won't see your health bar then... I know that last bit isn't related to the quest log, but it's sort of related to my first point because both of those are what people wanted.