Then again, these aren't CVS stores, more like the local pawnshop that buys and sells, only more so. In a medieval or ancient market, bartering is the norm, and "paying cash" is mainly a convenience for travellers who can't or don't want to carry a bushel of grain or a live chicken around with them.

Fallouts bartering system = Best imo

Most places in TES aren't even markets, they are more like established retailers. And I wasn't talking about bartering, I was talking about selling them everything you had for money. And even in the context of bartering, just because something is valuable doesn't mean it's valuable to everyone.

Yes, but how is it going to work with graduated tiers of equipment ? In fallout, you have a Laser Rifle, and a Hunting Rifle and this thing and that. And the prices span from maybe 50 (credits) to 1000.
In The Elder Scrolls ( generally ) You have the graduated tiers of equipment, with an Iron Cuirass being worth 20 sept, and a daedric one being worth 5000. Maybe the value-span from the very cheap to the very expensive equipment needs to be lessened for bartering to make sense ? I mean... In Oblivion a Daedric Warhammer was worth twice what the cheapest house in the game cost...

Just so long as I don't get blatantly ripped off by every merchant in the game, I'm not too bothered.

I'll refrain from voting, seeing as I'd like a mixture of both. A more refined haggle system, in addition to actual bartering - a combination of goods and money. Swapping my weapon for a new weapon, and a small amount of cash to meet there difference is great. It's also a good way of getting rid of your most expensive items - sell a very rare weapon, and trade it for numerous cheaper items. Those cheaper items can then be sold around numerous other merchants, for a full profit. This would require numerous general traders in an area to pull off properly though.

I also think that Oblivion's mercantile system (lack of barter) was good, considering the setting. In the provincial settings of Morrowind and Skyrim, I can see item-bartering being realistic and fitting. Cyrodil on the other hand is the 'civilised' Imperial heartland. They pride themselves on their mercantile prowess, meaning a system of purchase based far more on power of personality and currency than swapping goods. Each game has its own theme as it were. Aside from the gameplay flaws mentioned above in the Oblivion setting, the concept itself fitted well, in my opinion.

Oblivion's system was too tiring because it forced you to buy and sell everything seperately. On top of that you couldn't exchange items, you could only sell for gold. The icing on the cake was that storekeepers had an unlimited supply of gold but only spent them in set amounts. It just didn't make much sense.

Fallout 3 system worked fine, but it bothered me that you couldn't change the amount of caps you offered or asked. It was just a set amount and there wasn't a way to try and squeeze out a few extra caps from the storekeeper.

Morrowind is the only game where I really enjoyed bartering. I always tried hard to get the best price I could for my goods. There was just one major glitch with it and that was the disposition resetting after talking to the store owner again. If they don't repeat that and make bartering a risk-reward thing, that'd really be the best mechanic in my opinion.