What we should have is some sort of Skyrim mode where the game is naturally harder such as No Health Regen, Weapons/Armor Degrade over time of use, Arrows have weight, normal Weapon swings also decrease stamina, no natural magic regen, can only drink 2 potions at a time and then you have to wait 15 seconds before you can use another 2 potions (Using one potion and then backing out counts as two), etc.
There are a number of various mods which tweak immersion and difficulty settings. I have been dabbling with some of them, including making some mods myself. For example, I have made a basic mod which does two things: First, it takes away almost all of your normal stat regeneration. Second, that stat regeneration is added back into the game in the form of long-duration heal over time effects on food items. Once I have this mod tweaked to the point where I am happy with it, it will enforce the requirement to keep track of your food intake in order to have effective regen for your stats, while also having an overall decrease in the maximum regen possible, thus forcing you to make every hit point, spell cast, and sword-swing count...Ther eare quite a few mods which are already looking into balancing the game's difficulty. When I get spare time, I hope to dig around the Creation Kit and find some of the level scaling settings, with the intention of building some mods to tweak the difficulty levels, especially for dragons, dragon priests, and other boss type enemies. My current character is definitely feeling overpowered, and I probably need to bump the difficulty up a little. One-shotting anything weaker than a frost dragon (Frosties and Ancients still take two arrows) is quickly becoming boring...