LOVE
Gorgeous scenery (Especially some of the caves and caverns "joygasm!")
Incredible fighting animation
Soundtrack XD
Lovely armor
Lovely weapons
Owning homes where you can display these lovelies
Aerial viewpoints
HATE
Armor
The lack of variety, especially in stronger armor. I mean, why are you able to choose more between the different kinds of weaker armor you can wear, but for a strong defense, if you have more than one character, they're all going to be wearing exactly the same panoply in the end? (Especially if you experiment madly with different skill combinations like I do. And heavy armor is definitely up there in my line of the best in-game defense choices.)
Dragon armor (You mean I worked my smithing up to 100 to make the 2nd best heavy armor in the game that doesn't even look good when you compare it against all the other armor sets???) The light armor looks good, but the benefits to wearing light armor are minimal even for a sneaky character in the end (especially with that certain Daedric armor reward being out there...... > X-( )
Terrible Quest Rewards
Leveled unique items? Really? I worked my butt off for something I'm not going to be able to reasonably use? All I have is a trophy to display? All the Daedric rewards are pointless. All of them. Unless you have a hard-on for achievements.
The Thieves Guild is the worst. "You mean to tell me, if I want to be decently rewarded in the Thieves Guild, I can't complete it?" The reward in Oblivion for completing the Thieves Guild was TRULY epic. Your reward in Skyrim is a joke.
You can make better enchanted gear than what they give you in the game. This is a travesty! Why put something in the game that looks so great...!
on a mannequin!
Because if you ever want to play the game on a harder difficulty and not be instantly decapitated or be given very "pointed" flying lessons from a dragon, you need something strong enough to withstand attacks.
The quest rewards create a sort of catch-22.
Quests are there for you to have an immersive in-game experience while having fun playing the game. It's kind of boring to level up without having a goal to achieve. But in order to get a decent reward in Skyrim for questing, that's exactly what you need to do. You need to grind or be given something that's worthless.
Doing these quests helps you to level up your character without the painfully boring experience of just "grinding". But there also has to be a good reason for doing the quest without feeling like the only reason you're doing it is to grind. Hence the reason for a reward. But if the reward they give you is worse than what you probably already have equipped, or is a skill reward for something you genuinely don't care about, then you just did some cleverly disguised grinding and they may as well have handed you a poppy for all your efforts. I honestly prefer an rpg where the quest you're given is insanely above your level with an epic reward. At least then you can go find something else to do, come back, and be like "This was SO worth the wait!" Nobody I know plays RPGs hoping for instant gratification. Why make a reward scheme that reflects that ideal?
Leveling System
By removing the ability to customize your stats, the ability to customize your character into more accurately reflecting what you would like your avatar to be has been completely removed. Choosing how to develop your character's strengths allowed the game's difficulty to progress naturally. You could tackle what you could tackle because you made yourself able to tackle it. With the leveling system being what it is, you can run around and have done nothing but pick pockets, break into doors, talk to npcs, sold to merchants, dumped your perk points into nothing battle-ready, be level 10-15 before you know it, get out into the world and die because you could not control the strength of your character's strike as the world was out getting steadily stronger and you were left far behind focusing on making a profit.
The Mystical Lore is Left Behind
The previous Elder Scrolls games are pretty much dismissed and cast aside as a footnote in the books of Skyrim. The mystical influence of the Divines and the mind games of the Daedric gods have more of the feel of an in-game novelty, a sort of acknowledgment to the preceding games. Your character is far removed from otherworldly powerplay to engage in repetitive, too-frequently occuring battles with...
Dragons
They should have just left one dragon guarding every shout. The dragons have created bugs for me more times than I can count. They're an annoyance when you're just trying to get a quest done and every time you fast travel there's a bloody dragon. I get it! You're proud of your dragons! Now get them off my screen! You've fought one dragon you've fought them all...
Incredibly Short Quests of Importance
Hey! Look! This new guy seems like the perfect choice to take over our organization, even more so than those of us who've been struggling to rise up the ranks for years, even though we've only known him/her for maybe a month or so and this person has really, realistically, done so very little for us! XP
Houses
Okay, so you get to own a home. Okay, so you can put stuff on plaques and mannequins and bookshelves. But why won't you let me set anything down where I want? Why do I have a spouse or housecarl that says "You dropped this," and hands back everything I want to see set down on a table or stone outcropping displayed uniquely in my home. Otherwise I just go in and everything falls on the floor... At least in Morrowind and Oblivion you could decorate your homes the way you wanted to.
And my one beef with every Elder Scrolls game:
Boring NPCs
Yeah, Skyrim did a better job with dialogue than Morrowind or Oblivion, but I'm still not convinced that there's any life to these guys. In Skyrim, the animations from an NPC when you're standing there trying to hold a conversation is more funny than anything else. For the most part they talk to you like they're about to have an emotion, then it's like some invisible entity sneaks up behind them, pokes them in the small of their back and causes them to adjust their arms in discomfort from time to time. The only one who's convinced me that he might ever be the sort you'd actually see strolling the streets is Cicero (jester suit aside).
The Bottom Line
I like Skyrim, don't get me wrong. But I would have liked it better if the world was changed to be something else and sold under a different title. This is NOT what fans have come to expect from the Elder Scrolls series.