Personally, i like Fallout 3's lock picking the best. in Morrowind it always felt like i was stabbing the chest/door to open it, and Oblivion's was too easy.

The one thing i really hope they remove from the game is doors that can only be opened with keys. I think those doors should be insanely complex locks to pick. To use Oblivion's system for an example: instead of the tumblers just having to be pushed up they would have to be guided around an obstacle first. Another idea is that the tumblers are magically enchanted so they have to be opened in a certain order. If you pick the lock out of order it triggers a trap of some type (maybe a paralyzing spell plus alarm to alert the guards, or it summons creatures to attack you, or maybe direct teleport to the nearest jail).

Anyway, I'm interested to see if anyone else has any ideas or thoughts?

http://www.gamesas.com/index.php?/topic/1116332-tes-v-ideas-and-suggestions-180/