I don't think Levitation will or should return, it feels weird to say that because I loved it so much in Morrowind. However, levitation being in the game limits dungeon design too much,
Are you kidding? Levitation made dungeons in Morrowind so much more complex. Oblivion dungeons were more like a platform game, which by definition allow the types of barrier "puzzles" you are thinking about. Levitation OTOH makes dungeons, and their associated puzzles, truly three dimensional.
I loved finding secret passageways and concealed nooks in smugglers caves, only visible if you keep your eyes up. In a couple of the Daedric shrines, whole new areas beyond the shrine itself became available if you levitated and found there was a second floor. The fact that some Telvanni areas could
only be reached through levitation cemented their reputation as eccentric, reclusive bastards.
Levitation adds so much more to the game than it takes away.