Well, I'm a particular fan of the interface overall, but I do agree about the hotkeys. I'm using a 360 controller on PC, and I'd like to be able to use the eight keyboard hotkeys. Also, I wish it was a bit less quirky regarding one-handed weapons and spells.
I on the other hand dislike the UI.
A lot.
1)It fails to play to the strengths of the PC, where you typically have a short viewing distance to the screen, and high resolution displays, so you can use larger amounts of descriptive text on items in inventories etc. Massive amounts of screen real-estate is wasted by the menus, that use only a small strip on the left/right, when you have the whole screen free for relevant information.
2) Having to use WASD to navigate in the menus, where sometimes the Enter-key counts as confirming a command, sometimes the Y key, and sometimes you have to click OK with the mouse. The last one is particularly hilarious, since the mouse isn't normally used for jack in the interface. There's no rhyme or reason to this thing. (Possibly unless you use a XBox controller?)
3)When you use WASD during conversations, sometimes focus gets lost from the conversation lines, so W and S keys don't work anymore for selecting lines.
4)Also, I haven't found a way to move between pages in the Options or racemenu screens using the keyboard. There might be a way, but it seems rather hard to spot.
5)You can not quickslot weapons to the left hand.
I too have played games since the 8-bit times, and I have to say that the only UI I remember being as actively hostile to the user is the one in Dungeon Siege III. Funnily enough that's also a recent multi-platform game...
You personally seem to have moved straight away to using a X-Box controller. Why is that, I wonder? Should it be acceptable or the norm that a big budget game leaves usability with the default control method of a platform as an afterthought?