Well, in Oblivion people would start conversations with you sometimes, but only when they had something quest-significant to say.
I guess it would be kind of cool for some generic NPC to start a conversation with you and maybe ask you about someone in town or something, as though they, too, are on a quest. But I think that would lose its charm after hundreds of hours of gameplay. After a while I'd just want people to shut up and leave me alone, and there's only so much they can ask about before it gets repetitive.