I searched the entire dungeon for that damned thing and it was right when you came in, though you had to do a little levitating to get it. Hard to find? no, but you weren't led directly to it by some marker.
You didn't need levitation. There was an ascending ledge that wound around the lower room and led up to where you needed to go. But yes, I also searched the whole big dungeon before I noticed that there was another room up high near the entrance.
Following descriptions is a bit more satisfactory than following arrows because you learned a bit about the lay of the land this way. Often enough, the descriptions contained landmarks, so you learned something like "first comes this fort, then that lake, then this tower". That way, I had the major thrroughways down pretty quickly. In Oblivion, it took longer, because I had to follow the arrow.
As to the main topic, I don't think we will see any change back to more complicated RPG systems. People seem to like Skyrim, and the game seemed to sell very well. As a developer I would take from this that I did something right. I guess we will see further changes to TES games, but not back to some kind of "modern Morrowind" (at a different location, of course) with lots of factions with complicated interrelations, multi-layered main plot, but better engine, combat and AI.