Hello!

From the trailer we capture a glimpse of how sprint may work.

-Heavy breathing (adding to realism/immersion)
-Sense of speed (I don't feel like I've ever traveled that quickly in an Elder Scrolls/Fallout game) - bar mods of course.
-Havok Behavior If the part of the trailer where our hero stops at the edge of the cliff is an actuality this would mean that sprint has a slow down time.

What a slow down time, and the possibility of a quick-time event for stopping before danger is reached, means for us the player!
-Much like in the trailer, the player could find themselves running through beautifully detailed dense terrain. When suddenly a magical stunning vista appears as the player is sprinting, the player looks down to find themselves sprinting towards the edge of a large canyon and for a half second a random face button (Consoles) or key (PC, could be made tricky) pops up on the screen.

You hit the button!
Success your player has avoided their doom. They live and an animation much like the one seen in the trailer activates? ala Havok Behavior/physics

You hit the wrong button! / What button?
You player launches off into the canyon.
Choices are made, does the player try to steer his character toward the running water? Is a potion of Slow Fall drank in midair? Does the character have so much health/agility that they just get up and brush off their shoulders?

Sprint=Awesome!

Yup.
Ideally I wouldn't use it though. There are better uses for fatigue.

What if there is a perk so sprint uses no fatigue? I wouldn't want that available until like level 40 or something, but still. It could be in there.

Well then of course I would use it.
But I doubt they would put that perk in, as the perks benefit your skills more rather than random perks.
I hope there's a Wild Wasteland equivalent.

Sprinting=jumping further. Said this so many times, but this would be a glaring omission, just unforgivable, but exactly the kind of things developers can overlook.

Running in Oblivion was outright stupid.

First off, you could only run at a fixed speed, even though you had enough Fatigue for twice or even three times that.
Second, when not running you walked like a snail, even if your Athletics was at 100.
Third, once you finally got to run as fast as you would IRL, the game was pretty much over.

If we get to run at 2 different speeds in Skyrim (one being ordinary run, and the other being a fast fatigue-burner) then I'm definitely satisfied. Doesn't have to do much to make it happen either. Most FPS games already have these things implemented. Farcry had it, and that's an OLD game.

I just hate it when running in a game feels like you're being held back by some invisible force, like in those dreams where you're trying to run but it's really hard.

I'd rather not have quicktime events for half the actions in the game.

As for running without fatigue cost perk - how about a casting without magicka cost too? :facepalm:

There's likely a walk mode which isn't useful, a run mode, and a sprint mode which obviously shouldn't be sustainable. It's sprinting. If you can sprint indefinitely then you're not sprinting. You're just jogging.

Walk modes in games are usually useless unless the player is presented with narrow walk ways to cross over.

Walking is useful to roleplayers, however. And thieves who need to be quiet.

Look at this Crysis mod and tell me that professional developers aren't capable of putting head-bobbing in games.
http://www.youtube.com/watch?v=KNb0gMcexeU

I'll use it sometimes, but I tend to not like moving too fast in open world games. I like taking everything in. It will be something I use more often after my first playthrough.

Oh no... Not more aliens...
I'm looking forward to stylish finishing moves. Slowly sneaking up on unsuspecting enemies, grabbing their head and dragging the edge of my knife slowly across their throats, holding them still so they don't make too much noise as they stuggle against my grip, now slippery from their flowing blood on my hands, slowly lowering the now still body to the floor before moving on to my next victim. Oh I went off on a bit of a tangent there.