I don't want undiscovered landmarks to show up on my compass, I'd rather be surprised to find one.
Agreed thought I don't think its going to happen. Fallout's system was a little less vague as you didn't know what kind of location you were stumbling into, but I still think this isn't good enough.
In Daggerfall you had to ask for directions. This could easily be done. Simply record every direction for each race (N,NW,NE,S,SW,SE,W,E) thats 8 directions, theres 10 races and 2 genders. According to some simple math thats roughly around 160 different pieces of (short) recorded dialog.
We could revert to Morrowind/Daggerfall dialog menus and there could be a
where is section with all your active quest locations. You then click the location and the NPC tells you what direction its in.
Some NPCs might not even know, depending on where they live or their disposition.