But shouldn't it be about your character's skill? Maybe I'm biased because I have no aptitude for Oblivion's lockpicking system, but I figured it should represent my character's abilities rather than mine, or rather the lack thereof.
I see where your coming from when I was first playing Oblivion I svcked at lock picking until I found the trick to it. I can see the benefits of having it just rely on player skill like in Morrowind, just like there are disadvantages. Like having to wait god knows how long before you can come back to that specific lock, and finally open it.
It still annoys me that in Fallout 3, and New Vegas that I needed 100 points in lockpick to open a specific lock, when the whole time it was the same damn mechanism that I could open in a second.
Lastly, in a way the lock picking system does represent your character abilities. The higher your security skill the easier it gets imo, just like when your security skill is low its a bit harder(most of the weights dropping after a single mistake). Plus you have alteration spells as a back up.