It was possible though (Albeit buggy and unfinished) , All you needed to do in Skyrim to see all your Favorited weapon on your character was changing one line in the ini file.

I really hope we see it in Vanilla but I'm sure there will be mods for it.

You can try http://www.youtube.com/channel/UC1CSCMwaDubQ4rcYCpX40Eg's tutorials, they are very well made