My Warrior/Mage entered a cave that was clearly far above his measly 9th level. But through a 3 hour long (real life) battle using potions, summons, staves, swords, spells and, most of all, tactics, he fought his way to the bloody end..... he crouched in front of the huge chest of the 'boss' who could almost kill him in a blow if toe-to-toe and opened it with anticipation to find....
An iron cuirass
A flawless garnet
101 gold
Says it all.
Took away all desire to burn through huge amounts of resources ..... no reward for initiative, going off the beaten path, using up valuable in-game resources, risking insta-death over and over from powerful foes.....
I don't know if it will be possible to mod out level-scaled loot, but I can't believe Bethesda has strayed so far from its roots (they are starting to resemble the Dungeon Siege dude, forget name, who talks about player experience, challenge and 'fun' always staying in the flow and other utter garbage that makes a game into a sitcom)
Otherwise I love Skyrim in many ways.
J