I think the most elegent solution to this debate is Fast Travel Hubs(ships, carriages, etc) in major cities so that any player can get from town to town quickly, within the logic of the lore. Then add a subquest into the game, similiar to the Skeleton Key Quest, that allows you to hunt down a Magic Map that will teleport you to any location you've previously been at a simple touch.
This covers everyone's bases.
The Morrowind style of fast travel is restored (Improved, if an
option to view your ingame trip exists)
Those who REALLY want full fast travel can use the Hubs until they quest for the Magic Map, just as those who didn't want to pick locks would get the Skeleton Key (Though I'm sure most of you were master lockpickers from minute one
)
Best of all, it restores the usefulness of Mark and Recall for both those with and without the Magic Map, with the idea being that M/R is more accurate than being dropped outside town.
Everybody wins.