I think that if people want teleportation spells and items that take them everywhere then let them but personally I prefer to only use them when I need to get somewhere fast or want to go home. I have my tree mods and improved landscapes and areas for a reason I love hiking around Vvardenfell!
Early on while playing Oblivion, I noticed that I didn't really like walking around outside the cities very much, and wondered about this--because it was something I'd enjoyed a lot in Morrowind. Leaving aside that I found cities in Oblivion far more interesting than Morrowind's, I came up with the following: 1) The overall terrain in Oblivion seemed to dull, featureless, and (mostly) without change. 2) Encounters were very unlikely. 3) Alchemical ingredients were often difficult to spot, and their sources, uninteresting. 4) The various caves, etc, were all going to have one of three or four groups of creatures who would all scale with me, so I knew what to expect from them; 5) The loot I'd find would all be scaled to my character, so I knew what to expect, as well.
So I found myself wanting to use some form of fast travel more often in Oblivion (and let's face it, silt striders, teleportals, etc, are all forms of fast travel), but the only alternative I had to walking and riding was point-and-click fast travel, which broke the game's fourth wall. From a game design standpoint, it seemed odd, because it would have been very, very easy for the developers to provide in-culture alternatives as they did both in Morrowind and Skyrim. A curious omission, in my opinion.
My experiences playing Morrowind on the other hand were that of a very diversified and interesting environment outside towns, with encounters possible, with alchemical ingredients easy to spot from distinctive sources. Cave encounters didn't usually scale, and while most were fairly easy, there were times when things could get very hairy, very quickly: a lone mage isolated on a plateau separated by water from my entryway summoning atronachs, etc. The loot, too, was sometimes out of the ordinary. Couldn't be sure what I'd find.
That isn't to say Oblivion's way of doing things is worse. It's just that, from my perspective, Morrowind's drew me to find going walkabout a lot more often interesting.
That said, with Mart's and Fran's, and a bunch of other mods, I find encounters at least much more interesting now in Oblivion, and there are some cave systems added by other modders that have really made going out of town a lot more fun.