O_O...
Yes, ok, I get what everybody says "define RPG", what is "RPG", "It's your role to make it an RPG". Sure, on the same idea Call Of Duty is an RPG, I'm playing the role of a soldier, there you go, role playing game, uh?
Everybody did see what I meant though. Daggerfall/Morrowind were to me decent adaptationw of difficult rules and skill sets birthed on table RPGs. Oblivion was really starting to slow down on that, making much less options available, less possibilities, etc...
A real RPG to me is a game were you feel free, an I'm not just talking about the size of the map and where you can go, but also about how you grow your character, what you wear, your choices, etc... and with a rule for each of those possibilities. It has been done before, several times, so there is no reason why Skyrim couldn't do the same. But obviously, the mitigated reply from everyone dodging the answer by asking me to "define" an RPG like it wasn't obvious and playing dumb (didn't I mention Daggerfall and Morrowind up there?!), seems to heavily hint toward what Skyrim will actually be: an Action game with a reminiscence of RPG... which is very disappointing for a TES episode.
I don't get the health regenerating over time... even Fallout didn't have that, what the hell?!
By your definition I think there are only a handful of video game RPGs ever created. At the very least, your definition means the vast majority of "RPGs" were not true RPGs. It was a valid request based on that fact alone; I was not dodging the question. Personally, my definition of RPG relies more on the depth of character progression than anything else. Skyrim will have a more deep character progression system than at least more than half of all RPGs I can think of off the top of my head.
Anyway, I think the biggest four differences between Morrowind and Oblivion's systems are the combat systems, number of skills, variety of items, and number of apparel slots.
Morrowind's dice roll accuracy combat system was simply atrocious for a visual medium. It was acceptable in 2002 but really needed a huge overhaul as the years passed. Oblivion's combat was in no way perfect but still much better than Morrowind's. It wasn't as close to a table top RPG, but for a video game that's a good thing.
The skill drop between Morrowind and Oblivion was done for a bad reason: to arbitrarily make each attribute govern three skills. There was no real reason to do this, other than to artificially make the system seem tidy. Skyrim drops a few more skills, but I don't see this as being for as bad of a reason as Oblivion. I like a nested skill/subskill approach, and Skyrim's skill/perk system is a take on this. It's not perfect and I might have done it differently if I had a large team of employees working for me. Anyway, bringing the number of skills up to Daggerfall levels would have been one of the worst choices possible; I've been playing video games for 20 years and I find it a pain in the ass to make a character in Daggerfall. The average and even many hardcoe gamers do not want to take hours before they can actually play a game, especially if they quickly (or even worse slowly) find out they made some bad choices and can't correct them without a complete restart.
The item variety drop was a major disappointment. Things felt too organized in Oblivion. I can't say I like it, but I bet BGS's modelers and animators would have some interesting comments on the subject. I'd really like to see some more weapon choices, but I can't say that adding spears, crossbows, throwing weapons, etc would make the game more of an rpg. Anyway, many "true" RPGs limit you to a very small, linearly progressing set of equipment and skills based on your class. Skyrim doesn't.
The armor slot thing is related to the item variety, and it's probably the worst of all four because it could have been resolved by simply putting several extra armor slots into the system and letting the modders have at it. When modders have to use the ring slot to separate pauldrons/cuirasses, something's wrong. Pretty sure FO3 had a bunch of unused slots, so I have hope for this one.
As far as choices/consequences, I can't really think of a whole lot in Morrowind. Obviously you could only join a maximum of two houses, and that was the biggest area of the game where choices mattered. You were exempted from completing a small handful of vampire clan missions depending on which you joined. And if you didn't join thieves/fighter guild fast enough you could be prevented from ever joining one of them. This isn't even as much choice/consequence as in those dreaded, terrible, dastardly, evil, atrocious, shudder-inducing, vile, casual friendly Bioware games. Point aside, I like this aspect of RPGs, but it really limits freedom more than enhancing it.
There is no way that a single damn variable that can easily be changed (ie health regeneration) will prevent Skyrim from being an RPG. That's just ridiculous.
Anyway, go play Oblivion with FCOM, deadly reflex, and a good set of quest mods. Then come back and tell me it's not a proper RPG. Modded Oblivion is even better than vanilla Morrowind, and that is the beauty of Bethesda's games