This has probobly been posted a thousand times. However, perhaps not since Skyrim has been released and we have been given more story to mull over and revelations. I coudl be wrong however, if I am just point e tot eh thread and i'll read it. For now...
"What a piece of luck! Look. I'm an old Legion veteran, as old as the poor old Emperor, bless his soul. I'm too old for campaigning. I came this far to look at hell. But I can't go any farther than this. I'd take it kindly if you'd carry this old lucky coin with you when you go to Dagoth Ur. Sort of a token of the tough young hero I used to be. Would you do that for an old man?"
I'll take your old lucky coin to Dagoth Ur with me.
"That's very kind of you. Here's the coin. I've had it with me a long time, and it's always brought me luck. But I have no more use for it, and I'd like to pass it on to somebody younger. Somebody going places I can't go anymore. Your generation's shaper of history... an engine of destiny. That coin will bring you luck on the mountain. I promise. 'For Emperor and Empire,' as we say in the legions. Go with Kynareth."
However, then we get to the interesting bit...
:poor old Emperor:
"The Emperor is getting old. Don't know how much longer he'll hang on. So is the whole Empire, for that matter. Getting old, that is. The Emperor and the legions have held the Empire together for hundreds of years. It's been a good thing, by and large. But maybe it's time for a change. Time for something young and new. What? No idea. Because I'm old. Old dog doesn't get new ideas. But maybe young folks like you should try some new ideas. I don't know. Could be messy. But change is never pretty."
I personally took this to mean the events of Oblivion, but in hind sight the only part that really fits is the death of Uriel and the events wth Martin and the Amulet of Kings, and int he end that was more about the Septim Line and Akatosh rather than Talos himself.
Talos stayed the main figure for the Empire, and while it more or less crumbled, the Mede Dynasty built itself ont he corpse of the Septim Empire. You could argue that they are basically the same Empire or not (I personally consider it lesser and different, buts thats just me), but none the less an Empire remained in a form and worshipped Talos. I would call it different in ways, but not 'new' because it retained a lot of the old.
Until the events of the White Gold Concordat, the war, and Skyrim.
But maybe young folks like you should try some new ideas. I don't know. Could be messy. But change is never pretty.
I personally find what Wulf/Talos said more fitting for the events around the timeframe of Skyrim. I have my own thoughts, but they are mostly fragments and passing fancies, and i'd like to ask what the thoughs of others, new and old for contrast, are on the matter and ressurecting this old encounter? Old lore that was fulfilled in Oblivon? An hint for the coming Mede Empire? Of the future of the Stormcloaks? Dovahkiin? Something completely out of the left field, like Talos himself orcestrating his own 'demise' so that somethng 'new' can happen that those stuck in the old mindsets (in universe, and perhaps on forums like this aswell) won't see coming? Perhaps even a farewell of/to MK as he left his influence on the story behind to different hands.