I personally prefer Oblivion's combat system and if you want to compare Oblivion's combat to an FPS, you could argue that Morrowind's combat system is like an FPS too, since you have to aim or you will have no chance to even miss.
The only difference between Oblivion and Morrowind, is in how dodges work:
In Morrowind, it's a combo of PC and NPC stats and is not visually shown. This is irritating.
In Oblivion, it is purely based on NPC skill and AI. Which I believe is MUCH more realistic.
While there is more player skill involved in Oblivion because NPCs will move around more, without good weapon skills those blows will only be glancing! That makes more sense to me. Otherwise, they both might as well be turn-based combat and they aren't.
I'm happy with the Morrowind combat system with these mods:
- http://planetelderscrolls.gamespy.com/View.php?view=Mods.Detail&id=2164
- http://planetelderscrolls.gamespy.com/View.php?view=Mods.Detail&id=1958
- http://planetelderscrolls.gamespy.com/View.php?view=Mods.Detail&id=1634
- http://planetelderscrolls.gamespy.com/View.php?view=Mods.Detail&id=6036 (I don't use wounds and bloodloss one however, thats covered in Shoujos)
- http://planetelderscrolls.gamespy.com/View.php?view=Mods.Detail&id=7607
- http://www.tesnexus.com/downloads/file.php?id=226
- http://planetelderscrolls.gamespy.com/View.php?view=Mods.Detail&id=1576
- http://planetelderscrolls.gamespy.com/View.php?view=Mods.Detail&id=1095
- http://planetelderscrolls.gamespy.com/View.php?view=Mods.Detail&id=1393
It's really a combonation of using Focused Attacks with Trance mode from Combat Enhanced and having decent weapon skill, to make combat less "frustrating" and more tactical. I love taking my time in fights now, executing just the right set of combos to maximum effect.
I would recommend, increasing Difficulty slider to atleast 70 and increasing Health, Strength and Magicka of your opponents by atleast double. Strength I usually increase by 4 or 5. Otherwise once you get all the combos down and can daisy chain them, time your blocks and focus your attacks, you can really win most even level fights too easily, it's far more balanced by just giving NPCs a huge bonus to damage and more health. That way if you do start getting pumelled, it will hurt.