I always thought this debate was silly. Morrowind was great and was my introduction into TES. The reason I like Morrowind better has nothing to do with nostalgia, but because it was more of a complete game than Oblivion. Had Bethesda had more time with the hardware and a better understanding with next gen technology, Oblivion would have easily been just as great as Morrowind, if not better. Considering Skyrim will not have any of the issues of development that Oblivion did, I'm looking forward to Skyrim replacing Morrowind as my favorite TES game.
knowing the technology your working with doesnt make your quest/dialogue writing any better or worse