If you want either;
Vastly bland worlds with hardly any detail or content
or
HUGE FPS hits with phenominal initial loading times (20 minutes?)
Then we can lose loading screens. Otherwise, they're here to stay. Games that have no loading screen are always far less detailed than TES. You have to remember what TES is about. Huge open detailed sandbox RPG's. This stuff is incredibly hard to load without a screen. though, I would like to see Morrowind's system back. I didn't like being taken out of the world every time I opened a door. Pretty immersion breaking. Nothing to hate a game over, though.
That's a bit simplistic. The method I described above would allow for the game to ditch loading screens (aside from the initial loading screen) without sacrificing the quality of the game. You can walk around forever outdoors in Oblivion, without entering a city, and never encounter a loading screen. Does that mean it's a "vastly bland world with hardly any detail or content"? Of course not. Do we see "
HUGE FPS hits with phenomenal initial loading times (20 minutes?)"? I sure don't. That's because Oblivion already uses a simplified version of the background loading system I laid out; my system would just be more dynamic, in that when, in the course of filling in the new cells in the 5x5 grid, as the player moves around the world, it would note any entrances into an interior; if that entrance comes into the 3x3 grid, the game silently loads some or all of that interior; and when the player moves away from that entrance, that cell data is purged just as the exterior cells are purged.