I don't see what was "dumbed down" about the armor system from Morrowind to Oblivion. All they did was take away your ability to make small changes in the way your character looked by taking away the precious shoulder slots. I'm sure they will put them in Skyrim again because they took the extra slots out because they thought people would prefer not having to waste their time getting extra pieces of gear that gave little to no protection but instead it enraged everyone that can't stand change. So I'm sure they brought back the extra slots for all the people that complained about them like all the other changes they did to THE PRECIOUSSSSSS. Too many people think that Morrowind was such a golden game and that any deviation from that game is just unacceptable. People have to let go about their first game in the TES series they played. Move on with your life to the better games like Daggerfall and Oblivion and possibly Skyrim.
I know it's probably been said before, but it was a lot more than that. In Morrowind, you had a layered armor system. Plus, nearly everything had a left and right piece (except for greaves and boots because how often do you wear two different shoes or half a pair of pants? Cuirass also didn't have left and right, but the reason for that is obvious). So, I could wear an outfit of clothes, then a suit of armor, and then a robe over everything. Whatever they do, though, for armor that takes up more than one slot, you should be able to enchant it for every slot it takes up. It was ridiculous that mages not only had absolutely no armor, they couldn't even make the robes the wore much better at all.