Now that has been removed and everything is simplified to the point that there is no replay value. One character is all anyone is going to need.
I've seen this line of thinking a lot, that the replay value of the game rests in the ability to play again with a slight shuffling of the initial numbers among the rather limited grouping of skills that our characters can use.
Really? I always replayed for a number of reasons. I wanted to focus on a different guild with a different questline. Wanted to try a game with a new overhaul or new set of player created quests. Or even because I had set the game aside for a time and coming back to it seemed to warrant a fresh start. Started my last Oblivion game because I wanted to try out the Vilja companion.
But I don't recall ever saying to myself, "Self, I'm tired of this here Battlemage. Think I want to try a Spellsword instead!"