~And... no, the Thieves Guild does *not* do what it's supposed to do. If I join a guild of thieves, I don't do that because I want to help out a guy who doesn't want to be a thief anymore.
It's alright to have a plot like that going on in the guild as well, but it's really not the typical kind of quest you'd expect.
I agree. I joined in Morrowind because I enjoyed the fact that I'd have someone to help me get out of a jam without having to lose half of my gear. They didn't have Fences then, because you could sell stolen items without anyone knowing it was stolen, unless you sold it to the person you stole it from.
In Oblivion, I joined mostly because I couldn't sell things that were stolen to most people. I only did the quests to gain access to better fences, and even then, I don't really enjoy most of them, because they're robin hood style quests. I liked the Gentlemen Jim Stacy Bal Monglamer quests, because they were interesting, not because I wanted to right wrongs. I did that when I freed slaves, which was strangely often.
I enjoyed the Morrowind Thieves guild because it felt like a real thieves guild; you steal x because y wants it, and is paying well.
Just like the Morag Tong, and to a degree the Dark Brotherhood, though the DB victims are usually more evil seeming then I am. Usually.