The only people who will miss levitation will be those who exploited it. You know who you are <_<
That statement is completely not true at all, I never "exploited" levitation, I used it for very legitimate purposes, like say, getting to places only accessable with it. I want it back because it allowed for creative environment design that wasn't possible in Oblivion, namely, places that could not be reached without it, and its absence in Oblivion allowed Bethesda to make some VERY annoying decisions in environment design, most notably, the artificial "longevity" in Oblivion gates which serves only to make a feature that already was pretty repetitive even more annoying.
Still, I don't think we'll see it in Skyrim, since it's been confirmed that major cities are in seperate world spaces, maybe in the Elder Scrolls VI. The "levitation act" doesn't prevent it as with a name like that, I would assume it's simply a ban on levitation, not anything actually stopping levitation from working at all, and those things CAN change in time, especially when the authority that originally instituted it collapses, not to mention the player can do other things that are illegal, such as say, stealing, murdering, and trading in skooma, so why should casting illegal spells be excluded? And in any case, the whole thing seems like a lazy hand-wave for the absence of levitation in Oblivion to me. Just as the whole "Talos did it." is an attempt to explain Cyrodiil becoming Generic Fantasy Land, and like that one, I don't really buy it. If your going to make changes for the worse and explain them with such poor explanations, I'd rather they not be explained at all, that way, I can assume that it's just a game design thing and doesn't accurately reflect lore, so it's easier to change it back in future installments.
not to mention, the combat is completely different, i dont think it would play out right if you were floating.
That's easy to fix, just don't allow attacking when the player is levitating, that would also remove the percieved "balance issues" with it.