For those who want to slow down and add a bit more challenge, this is how I'm doing it.

In the SkyrimPrefs.ini file:

[MAIN]
bCrosshairEnabled=0 - Removes the crosshair. You can also do this in settings.

[GamePlay]
bShowFloatingQuestMarkers=0 - Removes markers from the game world. You can do this in settings also.
bShowQuestMarkers=0 - Removes quest markers from the map.

[Interface]
bShowCompass=0 - Removes the compass from the UI

[Controls]
bAlwaysRunByDefault=0 - You don't really need this, but I like to always start out walking.

And as "compensation":

In the console, type 'tmm 1'

Shows all map markers. I like to think of this as having a map some catographer sold me. It helps to orient you to places where you can get more information about your quests (in the absence of markers and a compass).

For example, In Hrothgar, I was asked to go find Ulfric. I had no idea where he was. I checked out my map and saw there was a stormcloak camp nearby. I went there and spoke with the NPCs. One of them mentioned Ulfric was in a certain city (I won't spoil it for you.). Problem solved So there are ways to get the information you need to progress in the quests. You just have to work harder at it.

Anyway, this setup works for me. Just thought I'd pass it along for anyone who wants to add a bit more immersion to their game.

Oh and one more "rule". No fast travel. :bolt: