I'm (after a few mods) having fun in Skyrim. But here's what I have to say. All comparisons are considered while in the respective games' prime. Skyrim may not be there yet, but here we all are comparing...
The world is great. Fantastic detail, large, dynamic and true to the lore. I guess that's why you could say it's a little bland; Expect no more than trees, snow, and rocks. There are parts of it, without spoiling, that have their 'ahhhh' moments, whether they be above or below the surface. While it's on par with Oblivion (although Oblivion did have Oblivion), Morrowind takes the cake. Mushroom Wizard Towers, Volcanoes and ash deserts, Imperial Forts, Underwater Shrines, cities made beneath the shell of a giant prehistoric crab and so many hidden treasures and easter eggs. Morrowind's world was rich, magical and enchanting. And when I first played that game, I was more captivated than when I played the subsequent two.
The combat is great. Although I play a mage, I did dabble in an Orc berserker and it was rather entertaining. There aren't as many weapons as there could've been though, and I don't mean skins. I miss Staves (the whacky ones), polearms, thrown weapons and crossbows. All that stuff was so cool. The execution-style cutaways as borrowed from the fallout series, while seeming a little cheap, have their place here and are welcome. Just last night I was giving my Dremora some curry, so he impaled me on his sword, all in glorious slow-mo. All the combinations are great; sword and board, dagger and dagger, one 2H, longsword and fireball. All pretty fun. I wonder how the oldies are going with the twitch needed at times? *CoughYasgurCough*

Skyrim has it sorted when it comes to combat I believe. Morrowind was frustrating at earlier levels, but that was the nature of the dice-roll game. I know some of my friends were put off by it. Oblivion was halfway there, still leaving aspects of it up to the game. But for total immersion, it requires your complete involvement. I just wish they applied this to other aspects of the game.
The magick system is...underwhelming. The few spells that are in the game are fantastic and very substantial. However there is so much wrong with magic, as has been described in countless other threads, from no spellcrafting to not being able to change spells in one hand with a ward up. The feel of the mage was off for so many aswell. I for one stopped playing until I modded it. Considering the other 2 games of the era, I consider the magic in Morrowind to be my favourite. Sure it has it's many downfalls, but I didn't feel as though I was bashing my head up against a wall. I didn't run out of puff. I could actually play my mage, not wait to play my mage. It had freedom. Skyrim puts you in an archetypical box, and the Mages one is much smaller than the rest. In fact I think it's a paper bag. A wet one. Which you can't even use your abilities to remove yourself from! The apparent underpowerment, while still playable, was awkward and offputting. I mean, c'mon, a fireball to the face? Of course, you could result to...
...Crafting! Trying to keep this short. I like all the crafting disciplines. However, my first and biggest gripe would be the way the UI operates, and how long it takes, and how awkward it is to manage. The second would be smithing; it can be used to make some serious gear. Some might say a little too serious. I tend to agree. It's overpowered. Honestly, do you beastfolk, men and mer of steel
need more help at being demigods? Bah! Should I feel compelled to play a warrior type character, I understand I'd be bored with the amount of smithing I can do. And should I choose to level it, I can do so by crafting iron daggers until the cows come home. It doesn't seem very well
thought out applied to the rest of the game. But since Morrowind didn't go past the armourer, and Oblivion was Oblivion. Skyrim wins.
Alchemy is fun. There are bugs; my dirt patch back at the College is getting old. Call me Cletus. There could be a better system for ingredient management. I have to say that, at the time, I enjoyed Oblivion and Morrowind's Alchemy system more. Particularly carting around all your gear, and being able to make potions wherever you pleased. Also, when you think potions, you think Mage. I don't mind that it's in the thief part of the night sky, but I do wish there were more non-general perks pertaining to us mage types later on in the tree.
Enchanting is a bit weird in Skyrim. It effectively hasn't changed a great deal since its inclusion in the Elder Scrolls, so it's fine by me. There are a few little things that bother me though, like a petty soul enchant on an iron dagger giving the same experience as a grand on a daedric longsword. But the main thing again, is the UI. Such a pain in the ass to use on PC; mouse clicks not working, enchanting the wrong item blah. It's hard for me to choose which game had a better system though. Skyrim has no enchanting vendors, despite having trainers. Morrowind was better methinks. You could do all you can do now, the effect creation was more intricate and you could achieve more.
The perk system is cool. I enjoy a traditional style start-of-game RPG character flesh-out as much as the next guy, but jumping right in a forging your character through WASD and L/RMB is what I like, gives me that sense of growth and progression. However, the perk system needed a lot more polish I believe. Lockpickingtreelol, ward absorb being
so beneficial, perks being the only way for a mage to augment their damage output through destruction... Hrmm. Perks are more of an action game system, but I think it has a place here and I like what it's capable of. I think they just need to think about it some more. Certain skills being omitted from the game, and/or adapted into the perk trees is inexcusable! Again with the streamlining...
The narrative quality varies greatly in Skyrim. From kneejerk guild chains, to radiant quests that will pull you into an endless abyss, to where I believe they spent most of their time - the main quest. While I have in no way experienced all of the content of the game, I will provide critique based on my limited exposure. Voice acting and text are neck and neck to me. They all have the capacity to deliver a story as good as each other. But at the end of the day, the voices in my head will be leagues better than poor voice acting (which is rampant in Skyrim).
Anyway, guilds. Guilds have story, sure. But there is no longevity. They give you no sense of achievement. Clearly made for people with short attention spans, or spoilt only-children who are used to getting whatever they want. When you sign up to a guild, before you know it, you're running the show. Well, at least to some; I still get people around the College talking down to me, despite my Archmages attire. The guilds don't make you feel like you're part a greater process at all. Through the last couple of lines all I can think of is the Companions, and how let down I was when reaching the end. It had it's cool moments, but it was just to short. I remember the fighters guild in Morrowind, and how I used to move around from guildhall to guildhall with all my crap and it would take me ages to complete whatever they could throw at me. Same with the mages. And that was an Island in Morrowind. This is the Province of Skyrim! The College of Winterhold was a better experience, and I was happy with what I was given as it made me feel like I was part of something. But to make Archmage, arguably the most senior position of magick in the kingdoms of men, with a few fireballs and a flame atronach? I was scratching my head for days. Didn't feel like I earned that badge at all. I was expecting my position to be commensurate with experience. Boy was I wrong. Now I haven't played the Thieves, Dark Brotherhood or been to the Bard's College, but I understand that the former two are hitting their stride as far as Skyrim quality goes. So I'm looking forward to playing them on a more befitting character in the future.
The main quest is great so far. That's right I haven't finished it yet. I'm up the bit where you gotta read the thing with words(?) on top of the hill with the talky guy. :/ I like to take my time (and I stopped playing for a while, as I said). But every turn it takes you on is great. Oblivion's MQ was a good experience too, even if a little short. But I found the trick is to immerse youreself with everything on the way to the MQ objectives, that way it seems like it has far greater depth. Morrowind's MQ was indeed a saga, god I loved it. Regardless of having to read your way through it, move around like a gypsy, and the end boss wearing a loincloth, it seemed so much more epicly rich than the later 2 games. Combined. This could indeed be edited as Skyrim's MQ draws to a close for me. I hope that will be the case...
The radiant quests are annoying. They serve no purpose but to give you a quest objective indicator.
How people can run up and talk to you is annoying also; I was once about to nuke a bear's face off, but up runs a courier. I freeze. The bear doesn't. The courier lived no doubt.

The details you get provided to complete quests is so shallow that they're useless. Miscellaneous quests weren't even deserving of a journal entry, apparently! The whole quest system relies upon the use of markers, which for us thinking type gamers is mind-numbingly boring and dishearteningly pedestrian. Morrowind was great for this reason - Having to read your journal to determine exactly where to go. NPC's gave you descriptive directions relating to landmarks for you to navigate by. You really saw the game that way, and once you were a couple of hundred hours in, you really knew your way around. Oblivion was halfway between the two. Semi-descriptive journal entries, whilst relying on quest markers to pinpoint who you had to talk to, or what you had to kill.
They go creating this fantastic world, then lead us through it by a small white arrow.

Quest bugs are pretty rampant. All I can say is thank the nine that I'm playing on PC. You poor console sods, and you represent the majority of the profitbase of Skyrim! Absurd!
I feel like going to play Skyrim now, so I will stop typing. But as I said, considering the last three games whilst in their prime, I would have to say Morrowind had more of an impact; Superficiality doesn't get far with me. But I'm glad you feel this way OP, as the majority do. I just hope Bethesda will one day return to the content, style and substance that the Elder Scrolls universe is deserving of, and what made the series great in the first place.
TL;DR: I'm enjoying Skyrim, as any ES fan would. But the superficiality, streamlining and bugs have really prevented me from holding Skyrim in high esteem.