1B. Morrowind is worse because it requires from player to spend a lot of time on doing nothing: walking on actually empty spaces, walking speed is reduced and slow, everything is so slow... Sometimes you even have problems with finding a quest giver from your journal! (and the fight system is bad, very simplified)
Emptiness:
I never thought I was doing nothing, walking empty spaces in Morrowind. There is always something interesting right behind the fog. It is when I tried that, exploring, in Oblivion, I felt like doing nothing, walking empty spaces.
Slowness:
Oblivion is the slow one for me, it could be the physics. Also Morrowind has PC like controls, good-old-pc-free-mouse-look. Without it, you suffer from console slowness which unfortunately Oblivion suffers a lot.
Quest marker:
If I can't find a quest giver, it is my own stupidity. If game holds my hand and leads me to every place then I feel like being treated as stupid. I want to deal with my own stupidity, thank you.
Intrusive journal:
Even when I don't look at the marker, minding my own business, exploring,(it is not even my active quest), game pauses and a dialog box pop-ups,
"You've arrived at Weynon Priory. Now you must take the Amulet of Kings to Jauffre."
Now how immersion breaking is this? Journals are for reminding. It is my mistake off course, I should have used the fast travel. And what the hell am I doing there, if I didn't want to take the main quest, right? Can't I just want to be surprised, a little?
Fighting:
Both are horrendous. They are the same, hit-hit-hit-hit except in Oblivion they tend to fly upon death. Now if Oblivion had mounted combat then I would say, "Oh, something new." Morrowind has an excuse here, combat is heavily skill based as you expect from an RPG game. After some certain skill number, it is action packed as much as Oblivion. I'm coming from fast paced Quake 3 culture and I didn't expect much from Morrowind combat, still I was glad with its action packed FPS style. At least I'm not seeing the dices. What has Oblivion for combat? Please someone enlighten me. Did I miss something?: Dual wielding, throwable weapons, mounted combat, gore, combos...