This: http://www.gamasutra.com/view/feature/6346/the_user_interface_continuum_a_.php

Was a cool study on user interfaces. Basically boiling down to, if it's a first person game or something where you "are" the character, then making the user interface as "integrated" or "part of the world" as possible is usually preferred. If it's a game where you are some sort of godlike controlling figure like a god game or an rts, then people prefer the interface to just be as quickly informative as possible.

For TES I'd say this would apply in two ways. This study is saying that when you're "playing" the game normally, running around hitting stuff, the interface should be as minimalist and "in game" as possible while still presenting you with what you need to know.

When you're managing you're inventory, leveling up or etc. then the interface should ignore being "in game" and just get people to the info they want as best as possible.

Seems obvious in hindsight, but there we go. Of course the study mentions that some people wanted to see the interface for "The Sims" as part of the game world, which is... whatever.

So... how it was in Oblivion, but with the UI while running around smaller and going away when not needed? I'm fine with that. I am always irritated when someone takes something and makes it pretty but less functional. Hello Apple.

as long as it does'nt svck for pc again