Well, technically, Bethesda did attempt to allow little, although useless, bonuses at the end of their questlines in Oblivion. I am referring to the primitive "responsibilities" system. Someone from Bethesda discussed that issue claiming they still don't know the fix for the meaningless, but they're working on it. Have you played Daggerfall before? It's factions and the privelages/responsibilites that come with its factions seem as though they might interest you and are, in my opinion, far above any similar system in Morrowind and Oblivion. For me, merely rising through a faction, experiencing a story, and gaining some shiny symbol/status is good enough, being part of the "write your character's own story" gameplay that this is known by among some other Elder Scrolls players. It is enough to satisfy me and I see such segmented things that aren't tied together as being part of the sandbox style I enjoy so much, but as you said, it's about opinions and personal preference. :shrug:
Also, being a Shezarrine is just plain badass, in my opinion, for lack of a better term.

However, if you haven't done so, I think you should give Daggerfall a try. It's free for download from the official Elder Scrolls website and requires some messing around with DOSBox, but I think you might like it.
Yep, I've played Daggerfall, and I did like it quite a bit. In fact, I played it the day it was released. Same with Arena. I was working at a software store at the time Arena came out and took it home and played it the very day we got it in stock. Come to think if it, I've played every single TES game on release day since the beginning. That's why Oblivion was a bit of a let-down for me, because up to that point I was a huge fan of Bethesda's games. I can appreciate Oblivion for its pretty graphics, streamlined combat, and multitude of locations to explore. The problem is that I didn't feel like the game was interacting with me. I was finding stuff and checking off quests, but that's it. I have no problem with creating my own narrative in games, but when the game gives me that little feedback it starts feeling more like Gary's Mod than a game. Heck, due to the level and loot scaling in Oblivion I didn't even feel like leveling up mattered, and finding powerful items was just a matter of being the right level...at which point even bandits and robbers started dropping "rare" glass armor and such. There was just nothing for me to accomplish that really mattered.
Judging from the results of the poll, those who do not like this game are in the minority. One reason for this might be all the hype leading up to the release of New Vegas. Fallout 3 was just so freaking good but the hype made some expect something well above that. But really, how do you top a game as good as Fallout 3? Anything less than the best game ever might seem like a disappointment due to the hype about this game. I am 28 hours in and loving it. :fallout:
I don't think it has as much to do with that as the type of game people are looking for. I liked Fallout 3, but I didn't love it. To me New Vegas tops it easily. That's because I'm more focused on core game mechanics, character interaction, environment interaction, choices and consequences, etc. New Vegas handily trounces FO3 in these areas. I also didn't feel like FO3 got the setting right at all, but that's immaterial to this point I suppose. Fallout 3 was a lot more like Oblivion than a Fallout game in that it focused more on being a sandbox than an RPG. A sandbox is something that the Fallout games have never tried to be before Fallout 3. While I thought the artwork, some of the writing, and plenty of other aspects of Fallout 3 to be fantastic, I was really, REALLY disappointed in the RPG mechanics, the depth of the characters, and the ways in which I was able to affect the game world as a player. The biggest draw to Fallout 3 in my mind is the multitude of locations to explore, the random quests to collect certain items, etc. That stuff is great, and it's one of the hallmarks of the TES series, but not so much the Fallout series. Fallout 3 had a lot more in common game-design-wise with a TES game than a Fallout game. Fallout is not post-apoc TES (at least it's not to me), but that's kind of what Fallout 3 was.
If Fallout 3 and Oblivion were your first experiences with Fallout and the TES series I can definitely see why you would be disappointed with New Vegas, because you were probably expecting another TES-style game. I've been playing both Fallout and TES games since both of those series began, and to me New Vegas fits into the Fallout series MUCH better than Fallout 3 does. Then again, I felt that Oblivion was a step back for the TES series as well. I guess my point is that I think you're halfway right in that some peoples' disappointment has to do with expectations...I don't think it has as much to do with hype as much as the type of game they were expecting, though. For me New Vegas is a reassuring title, because after Fallout 3 I wasn't sure if I'd ever get to play another Fallout game that felt like a Fallout game again.