Well, I purchased Morrowind yesterday off Steam, and thus far I have only played for an hour (school), but I have come up with some first impressions.
1. Morrowind is MUCH more complex then Skryim. I personally love it, but some won't.
2. The game is more open-ended (i.e not forcing you through the first couple missions).
3. It will take a lot longer to level up.
4. The luck combat gives you a real reason to save fatigue.
5. Mods (will) breathe new life into this game once I complete the Mages and main story line.
6. The amount of dungeons in this game is extreme.
These were just my first impressions. Feel free to comment what you felt when you first booted it up, any tips for a new player, or anything related to the impressions.