3rd person should stay, but it should actually control like a 3rd person game.
No strafing. No backing up.
In real 3rd person hack n' slash games, pressing left and right = the character actually turns and runs in that direction, rather than strafes. Pressing down = the character runs towards the camera, rather than backs up.
That's how it works in God of War/Assassin's Creed/Super Mario/every other non-shooter 3rd person game.
Elder Scrolls' approach of keeping 1st person controls in 3rd person mode is one of the biggest reasons why the mode feels so broken. That only works if your gameplay is mostly a shooter-styled affair (a la Gears of War).
I think strafing or turning should be optional, as backing up is extremely important in combat. First rule of any combat is "don't turn your back on the enemy". I don't use 3rd person myself, other than when looking for objects in high grass, my excuse being that in real life that grass would be flattened. If the game "changes" behavior depending on if I'm in 3rd person or 1st person mode, I would get confused. I even want to retain 1st person for everything. Like when I'm sitting down, knocked down, paralyzed, mount my horse, or do special attacks. I hit 3rd person view accidentally very recently and saw that my character actually turns around while performing the swing power attack. I always thought it was broken, but it's just shown differently (or rather, not at all) in 1st person.
What I also want, for 3rd person AND 1st person, is actual freelook (within limits, I'm not an owl). I should be able to hold alt key while looking around even if I'm still walking forward or strafing sideways. That would allow me also in 1st person to check my surroundings better when backing up, instead of being an advantage only to the 3rd person users.