I'm not pulling for anything particularly fancy. I expect a straight, and horribly exploitable "Damage Resistance" mechanic again like Fallout 3 and Oblivion. I'd certainly love to see a more developed armor system based on material strengths, and specific damage types. One of my big peeves about The Elder Scrolls games so far, is there's no reason to really use any weapon other than the one with the highest theoretical DPS. That's partially addressed with perks granting interesting properties to certain weapon types, but not exactly justifying a warrior carrying multiple weapons around with him, though from what I hear, Mastered mace perk completely negates an enemy's armor bonuses. Hopefully the rest are that profound.