http://blog.brentknowles.com/2011/07/03/designing-frustration-part-2/
"When a game mechanic or rules system frustration crops up in playtesting as a bug, do consider other solutions than simply cutting it."
That one is for Bethesda...
"Certain RPG designers, in an attempt to make their games appeal to mainstream crowds have remove the system or attempted to ‘simplify’ it"
That too. Although he speaks about inventory system, its easy to see what happened since Morrowind.
So, again, fast travel in its current form could well be completely removed (in future games) to be replaced with player interactive travel systems that he has to work for. There is NOTHING rewarding in the current fast travel "click and appear" system.
"Beware of murkiness places in the design where a player hits a frustration and does not understand what they can do to minimize that frustration. This is not a problem with the feature itself… it is a problem of presentation"
^This. So much this! If a well thought out system that makes sense was in to begin with, nobody would object to not having "click & appear fast travel". The only TES that I've played that actually needed fast travel (click & appear style, not talking about true travel systems like Silt Striders, Teleports, and Carriages), was Daggerfall. And even its presentation worked out (the travel options menu). Since then you can travel across the map in a few minutes, making it completely redundant. But I don't want travel systems to go (too hard core), only to have the player influence the frustration level of using them (missing in Morrowind, frustration level - little as it was - was constant).
I often say that frustration is part of game design 101, but it have to be well designed of course. I don't understand why traveling should not be subject to it. It's an RPG for crying out loud. Always getting over powered, while not deliberately trying to exploit the game, I guess is one frustration. But I don't think it really counts for much...


... You are the only one who actually rationalized the positives and negatives of the feature, and why it is balanced the way it is now. ( Besides the obvious, its optional, or you already explored that area so one click makes it ok. lol)
