Personally it doesn't matter to me. I've never skill grinded and think no less of those who do. It isn't a multiplayer game, so I don't know if we can really call anything an exploit. Instead, we just play by our own self-imposed restrictions and mock the impurity of those who are less hardcoe than ourselves! :grad:
That is true, I've never understood why people complain about balance as much as they do in single player games.
I mean yeah, obviously if one weapon type is just vastly superior to all others, that's not a good thing. But having exploits or being able to become incredibly overpowered by grinding or enchanting your gear or whatever isn't really a problem in my eyes. There is no multiplayer for it to make a difference, if you don't like becoming to powerfull, just don't. It's really not a difficult concept, self control is all you need.
To illustrate with an example, I've forgotten who said this, but someone mentioned that bringing back Morrowind's armor system /As in, separate pices for everything, left and right pauldrons etc.) would cause imbalance because all the gear could be enchanted and thus you would potentially become too powerfull. To that I say: So what? What's the problem? Just don't do that and you're golden.
Personally, I'd prefer that system back, it allows for more control over how my character looks. I might enchant it all and become a god among men, or I might not. The point is that the choice is mine, it affects nobody else. If you really feel that your accomplishments are cheapened because someone else can just exploit their way to incredible power, I have to ask, why do you care? What you do in your game is your business, what I do in mine is my business.