Would be the coolest thing ever. The quality of skyrim BUT with DX11, newer game engine. Go to atmora, pyandonea, yokuda, akivir, previous regions of tamriel, and a NEW world found in the eltheric ocean.
New neat stuff:
the ability to climb mountains and houses (like assasins creed)
new fast paced combat
total absence of loading screens
new water physics like, waves, boats.
new weather affects like fog wind steam
light and heavy armor AND medium armor perks
spears. spears would be a big part becuase of the new ocean location
awesome music.
way more npcs
dust and dirt
WAY better shadows. dont do that cpu shadow thing just for the consoles. make it gpu governed
screen edges have a dark blur like in battlefield 3 (makes it more imersive)
more voice actors
repair damaged weapons and armor again
pc interface friendly
real grass that covers the ground.
moar armor and weapons (everyone in skyrim has the same sword lol)
whips - dont ask why i just think it would be a cool weapon
interact with everything. dig dynamic holes, cut down trees
i really liked in fallout u could shoot peopls legs and faces off. that would be sweet in skyrim. break a leg!
these are just things i think of off top of my head. would be a really great game. the best actually

O.o

The Elder Scrolls games already take an average 3-4 years to produce.

This monster would take 50.