Errrr.. consolitis is the death of good game dynamics. Take Oblivion for example. I dont think all the buttons and textfont were large enuf... :facepalm:
I've actually never played Oblivion, so I'm not sure what you mean. The in-game menus?
It would be great to be able to replace a lost quest item (especially one that is essential to the game) or (like I would do) immediately max out and equip my character from the beginning so I can get straight into the quests. Leveling-up was fun when all I did was play video games every day, but not these days, and even though I know all the glitches I need to exploit to make that process as speedy as I can on the Xbox, heck, it still takes a good few hours - time that is more enjoyably spent exploring and questing. PC users game with console options just fine; us Xboxers would manage just fine as well.
That and improved graphics would be all a recreated version of Morrowind would need.
EDIT: also, two more things. First, the ability to adjust how quickly the time passes in-game, from the normal setting to as slow as real-life time. I like how I can simply add the Tempus Fugit ring mod on PC and be able to play either in daytime (which I prefer most) or play according to the actual clock on the wall. The default time setting is ridiculous, at least to me.
Second, either an independent face editor where I can choose a face and customize skin tone, hair, and facial hair for it (and customize the color, including highlights, of the hair selections) or else a much wider variety of choices. The stock selections are... lacking.