i actually think you make some really good arguments. i remember the monk class from oblivion (never played it though). does this mean, though, that you would need good alteration/resto skills for protection? or could you just use heavy armor. i'm just trying to imagine how this would 'fit' into current skyrim builds.
There are many possibilities.
You could be a stealthy khajiit that wears only robes, and sneaks up on enemies to get an advantage, then rip them to shreds before you take too much damage.
You could be a hulking orc that uses heavy armor and a shield to tank enemies. This is especially fun since you can "fight" with shields, now.
You could be like a Dragonball Z super sayan or whatever and enchance your unarmed attacks with magic.
That's just three options.
All of these characters are completely viable in Skyrim simply by tying unarmed gamage to the one-handed skill tree (using a mod). I've made all of these characters (the orc shield brawler was my favorite). No mods were necessary in previous TES games.