Well all this does make me optimistic about Skyrim... Philosophically, I'm strongly in the anti-levelling camp, but in reality I have to admit... I loved how the rare and valuable things in Morrowind were where they were... The great house's treasuries, the Armigers with their glass, Telvanni Fyr with the only almost-complete suit of Daedric armor on Vvardenfell, and all that stuff was there because that's where it was--you and your level had nothing to do with it, except in terms of how easily you could make it yours. But on the other hand, the game did get downright boring by about level 20 or 30, when the kagouti that were terrifying when I first encountered them at level 1 were now total pushovers, as was everything else in the world, and challenging enemies were extremely rare.
It was too hard at lower levels and too easy at higher levels--and come to think of it, it was sort of rare to find anything that was just the right amount of challenge.
So Bethesda learned from that and tried to fix it...and went too far in the other direction, resulting in the travesty that was the Oblivion levelling system.
On the other hand, as stupid as it was having bandits in glass and daedric, one positive aspect of that was that your income was appropriate to your level. In my heavily-modded FCOM game I'm playing now, for once in my TES-playing career, I've been forcing myself to refrain from using the console to cheat for money, and I'm finding it very hard to get rich. I blow through money fast on cute outfits at the Goddess shop, and collecting the spells I want has been taking a very long time. I'm using a bag of holding (gives me a container with unlimited storage that I can access at any time), but even though that allows me to, if I want to, take all the equipment from every enemy I beat... (Which some may consider a cheat. I think it's no more a cheat than fast-travel...but then there are many for whom that's not saying much in its' favor...) Even taking full suits of armor from everyone I kill...it's barely enough money to make it worth the time it takes to transfer it into and out of the container. At this rate, I can't imagine I'll ever be able to buy a house.
So it's clearly a difficult balancing act, but it sounds like they're listening to the feedback and learning from past experiences, so I think it they'll get the balance closer to perfect this time than they ever have before. And if they don't do it to my liking, modders will be there to make up the difference.