Morrowind didn't have respawns. And content wasn't randomly generated - therefore dungeons felt as if they had a purpose and I felt that I actually accomplished something. If they do have respawns, I then agree - a more suitable pace would suffice. I remember leaving and entering a dungeon right away in Oblivion, just to come across bandits that weren't there a half a second ago...
Morrowind didn't have respawns? Content wasn't randomly generated? Instant respawns in Oblivion? Well, I'm going to tell you how all those things are wrong to some extent.
Morrowind did have respawns. Granted, it didn't respawn named humanoids that corresponded with the game's main 10 races (Altmer, Argonian, Bosmer, Breton, Dunmer, Imperial, Khajiit, Nord, Orc, and Redguard) and some other unique NPCs (I.e. The named Dagoths I think). However, lets say you were in a daedric ruin, you killed a couple of daedra and removed their corpses. You then proceeded to enter another cell and return back to the previous cell that you had killed those daedra. Tada, there's now new daedra. Furthermore, it's no secret that the same applied to enemies outside of dungeons (Ruins, caves, etc.) ... like Cliff Racers. o.o
As for content not being randomly generated in Morrowind, that's true to an extent. Depending on what you consider random, you could argue that the many leveled lists that Morrowind did use constituted as randomly generated content. Many chests and loot in Morrowind did use these leveled lists to determine what items you would or would not get when you opened chests and other similar storage units. Surprisingly enough, the game also used these leveled lists to determine what enemies (Creatures, daedra, etc.) would appear in the game world. Granted, this does not include uniquely named creatures and daedra, such as the unique Golden Saint, Staada.
As for instant respawns in Oblivion, as someone has already pointed out, that's not possible. There is a 3 day timer for respawns which resets if you re-enter the dungeon at any time during the 3 day peroid. Chest and other storage units in Oblivion also respawned at the end of those 3 days, unlike in Morrowind, which had no respawning chests or storage units that I know of.
Anyhow, I've been playing Morrowind so it's a bit fresh on the mind. So don't take this reply personally, was just sayin'. o.o ...
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http://www.uesp.net/wiki/Morrowind:Leveled_Lists
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