With the way things seem in Skyrim, I would love a method of quickly changing load out, so that by pressing a button you can quickly change what you have in both hands. This might already be the way it's designed but just in case I am making this suggestion. In oblivion we had the hot wheel for changing items/spells on the fly but of course in Skyrim that can't work like it did back in Oblivion since spells now take up a hand. Well instead of just individual weapons, I would love to see the ability to change the items in both hands with a single button press. As an example on PC of a potential rogue set-up, you could bind a heal spell and a chameleon/Invis spell to 1, a dagger and fire spell to 2, a bow to 3 and long/short sword and dagger to 4.

On PC I don't think it'd be hard to do, it could be set-up so that when in inventory, holding Control and clicking something sets it to the left hand, holding Alt sets it to the right hand and then Shift for dropping things. Overall I think this would make it a little easier to shift between different weapons/spells quicker and it also means it'd be easier to set-up things like switching from a sword and shield to switching the shield out for a secondary weapon rather then just switching the swords around.

Also I'd like it, if we could change the behavior of the mouse wheel from zoom in/out to switching between various load outs. Because 5~8 can become a little tricky to switch between when you are also fighting. Alternatively that hitting the mouse wheel (mouse 3) changes the behavior from zooming to load outs.

I think it's supposed to be like BioShock where the game will pause while you're in the favorites menu.

I would rather have a method that doesn't have to interupt/pause combat to be honest... it'd make things flow a bit better in my opinion, more so when all you really want to do is change to common weapon(s)/spell(s).