Beginning of rant. Suggestion is further down.
I just completed Morrowind again, probably for the last time. This playthrough was with loads of modern mods, greatly enriching my experience. No silly game-breaking "cheat" mods, of course. And no Alchemy exploit or anything.
At first I got leadership in most guilds. Then I almost completed Main Quest, got everything but Dagoth Ur himself. Then — Daedric Quests, Bloodmoon Main Quest, leadership in all guilds. Then Dagoth Ur. At last, I completed Tribunal Main Quest, and enchanted Ebony Scimitar with Almalexia's soul, creating extremely powerful weapon (47-48 Fire, Shock and Frost damage on strike, 1500 charge, goes on for a while). Saved and tested it on some Ordinators — 2-3 hit kills. Then checked it on Vivec — he had no chance.
But I have absolutely nothing to do now with that save game, and while I knew it would happen, it is still kinda sad. I love this character. I love my expanded Tel Uvirith, stocked with Artifacts (never sold any non-generic magical item), armor sets, weapons, Ash Vampire souls (decided to soultrap every Dagoth just because I could) et cetera et cetera. That Ebony Scimitar is just a cherry on top, my character already was virtually unbeatable for a while, probably since she got that [censored] mace from Bloodmoon with 30-90 damage. And again, nothing to do.
Yeah, I can kill Divayth Fyr and that overpowered Bosmer in Mournhold. I probably will — just because I can, and just because this is still something to do with character I love. Or maybe not, because my latest save game is in perfect position: on highest tower of Wolverine Hall, during crystal clear night, staring on moons.
End of rant. Beginning of suggestion.
I can only wish that Skyrim will have something to do when everything is done. Of course this is self-contradictory, but all I hope for is random generation of quests which will include extremely difficult opposition, just for the kicks. These quests should become available after Main Quest is finished, and they definitely should be completely leveled, Oblivion-style. Rewards at this stage are irrelevant, though — these quests should basically require ridiculously powerful character, decked in artifacts. Because in the end, most characters becomes ridiculously powerful.
Of course, I understand that not everyone plays Breton Spellswords (read as "most overpowered race/playstyle combination in TES 3-4"), and if these random endgame quests will be tough for "Breton Spellswords", then they will be absolutely devastating for Argonian Barbarians and Orcish Nightblades, especially if player is roleplaying in somewhat restrictive manner. And that is why these random quests should not have noticeable rewards. You don't lose anything if you are not doing them. Although probably there should be some variation in random quests difficulty. "Easy" quests should be doable by any non-gimped character, "Medium" — for most archetypes, "Hard" — for most overpowered archetypes (and almost fatal for, say, non-magical warrior or pure mage without Alchemy and/or good weapons). Oh, and "Hard" should not be hardest setting. "Ridiculous" difficulty random quests should destroy just about everyone.
End of suggestion.