Aiming where your weapon lands in dead island mainly just cuts off limbs or sends them moving in desired direction but the way it could be applied to skyrim is;
- Arrows to the head actually hurt more then anywhere else on the body and not being the same as being shot in the foot, with sneak attacks being 1 hit kills.
Besides that, blows landing to certain parts hurt more then others like you would expect it does, the combat would be very entertaining, remember that video where the pc is fighting some shield enemy and you actually see him slit his throat? well now he would be dead.
If parts of the body deal different damage and you have the option to aim at those parts then melee combat would be very entertaining, there would be a flow to combat, block, shield bash, aim ur sword at your opponents hand ( disarms him ) then slice horizontally and cut his throat.
And not just....mash right trigger mash left trigger...generically swing swords like an idiot, dealing the same amount of damage when hitting different parts of the body.
Skyrims melee combat would be a game of its own. Why o why wasn't this ever planned....?