It would be great for RP purposes. I wouldn't mind it if you could control your age whenever you want, a barber shop type thing would be nice too. Not too much time passes in a TES game though, I don't think. So if you started the game looking like a 20 year old and ended looking like your 80, then you probably would have missed some significant events in history.
Word. As I posted, I agree with this.
Though, I've never paid much attention to game time.
With the amount of stuff your character has to go through, I've always imagined the arch of the story taking at least a decade or so.
For me game time, is "action" time, and doesn't include the weeks in between when my man is training and sitting around swapping stories and drinking beer, er, mead that is.
Same goes for me by the way.