I feel weird, because I was one of the biggest fan boys leading up to the games release, and I've felt thoroughly let down every step of the way since the midnight launch. I've actually felt it a chore to play the game, most times electing to turn on BF3 instead.
Starting with not being able to play at launch due to the bug (I'm still experiencing) where the game wont load with AA enabled, not figuring that out til the next day, that left me with pretty sour graqes. Paired with the agonizing process trying to bind a few keys due to the PC, the platform where the series was born, being sold out to console and the entirety of the controls and interface being horribly overlooked and lazily slapped together, theres no way in 2011 a game should come out with these sorts of issues. What was the number, 280,000 downloads on steam at launch? plus physical copies? times 60 bucks a pop, $16.8 million. You couldn't devote some of the budget and staff time to making the [censored] game playable? While they were recording "70 different voice actors" they could have made it so pressing a [censored] key actually does what its supposed to. Oh, I'd unlock those new shouts I have available but pressing R in the menu like it tells me to does absolutely nothing! Thank you! Boy though, I'd sure love to bind my numpad keys, oh no? They're irrevocably reserved? Ok. I have to download a mod to make the keys work? Is this real? I know bugs are inevitable with a bethesda release, and not everyone is having these same issues, but something as simple as the controls shouldn't be this broken.
Sorry for the rant, I just dont think a sequel should ever feel like a step back. In Morrowind if there was a hill between me and my objective, I could walk over it, worst case scenario I cast a jump or levitate spell. These spells dont even exist in this game, and they sure would come in handy when I need to get to the top of a mountain or to the other side of it. The movement is broken as well, the many mountains and hills are impassible without following the exact path they've laid that always seems to be so very far away, it isn't all upsides to having such a vast game world. Trying to jump up these hills, or even jump over simple objects often results in hanging in limbo, slowly falling without being able to do anything, its so annoying. I cringe every time I see a mountain, its not bad enough theres no way to navigate them off the main path, but they're so ugly. They really, really didn't want or expect us to try to go any other way than the main road, or else you wouldn't get these ugly jagged edges and snow that came from the PS1. No, worse, because on PS1, in metal gear solid in 1998, you at least left footprints in the snow, In 2011 they left out this detail in a game where half the world is covered in snow.
I know people are gonna say I'm nitpicking. TES have never been technically perfect, they cant be when you lay out this kind of world in this kind of game. In Morrowind and to a lesser extent Oblivion I never felt restricted. In this game I do, and many important details just feel dumbed down for the consoles. I dont feel drawn into the world or urged to play again every day. There are just a lot of things I feel could have and should have been better, right out of the gate. They aren't, and for me its made the game a fair bit of a disappointment

Another new thing I like is the ability to improve armor and weapons. When I was first hearing about the game I thought the smithing skill would be a waste of time but it quickly became one of the most useful to me and one of those little things that make customizing your character that much more fun.
Secondly, I would have liked to be able to have more than one human follower just because I like kicking down doors and cracking skulls with a small team to join the fun
Skyrim has 3d item models though, so that's even better but I admit that I would rather have my character model like in Oblivion.