1) Choose the level difficulty that suits you at the beginning of the game, this difficulty can not be changed later on, I recommend master difficulty. This idea is suggested by http://www.gamesas.com/index.php?/user/734829-tagle/.

2) Dead is Dead, period.

3) Can't carry more than 125 pounds - And this is being generous, 300+ pounds is just ridiculous. Feel free to use a companion to help carry stuff however, but don't give them an unrealistic amount of junk to carry.

4) No Waiting - I seriously doubt that someone would stop moving and stare at the same thing for 16 hours

5) No Fast Traveling - Using public transport is the only exception.

6) 8 hours of sleep is required everyday, or else self afflicting problems shall occur.

7) A job is pretty much required, be it mining, chopping wood, hunting, etc. multiple jobs are recommended, but you have to stick with at least one.

8) Three meals are needed each day, or else self afflicting problems shall occur, you can also eat more than this in a day if you skip a meal.

9) Combat shall be dealt with strategically rather than just rushing blindly.

10) Always prepare for each and every trip you go on, be it a dungeon, hunting, etc. always have at least a little bit of gold when available, maybe some food and some potions / other obvious things.

11) When making a journey, use a road when possible, venturing off into the wild can be really dangerous and unnecessary unless hunting.

12) Glitches / Cheats / Unfair advantages are NOT allowed, what-so-ever ( no console using! )

13) Try to stay in character when possible. If you're playing a goody-two-shoes, stealing a horse when you see one or pickpocketing is a no-no!

14) Wearing heavy armor at all times would be uncomfortable and unrealistic, wear light and comfortable clothing when possible.

15) No more than one guild, also being the guild master of a guild in a weeks time is unrealistic, take things slower than Bethesda made it.

I plan on creating a character following the above criteria, sounds like it'll be a challenge but so much fun, anyone else doing anything similar? Any suggestions for me / others?

Then you should probably consider 1-hit kill for your realism mode too... surely no one would survive a full hit from a giant axe ._. *trollface*

I think that doing that would actually be more frustating than actually fun =P

Applying restrictions to the game allows the user to immerse himself more with the world and even develop somewhat of a bond with their own character. Things get extreme when such restrictions are applied too. When you hear a dragon coming you'll more than likely start running away and feeling even a fear of death. I did this type of thing in Fallout 3, ended up making several characters following such restrictions due to deaths and sticking with the rules like I promised, I remember getting extremely scared whenever a deathclaw or something along those lines of difficulty would appear. Trust me, the feeling is really worth experiencing.

I like all of this except this one. Spelunking and selling off your finds is a job. You'd only need a job if you have no other source of income.

With waiting I just imagine them doing things, like catching a bit of sleep if out in the wilderness, going to the loo, chilling in a bar... repairing weapons and armour...

The way I like to look at it is that, I consider spelunking a job. It brings in income, there's many other ways to bring in income other than just spelunking. I'm allowing this rule to be open to interpretation and have exceptions.

what does master difficulty has anything to do with the realism? people who arent as good as you cant enjoy the mod?

Because life isn't easy. Also, it's not a mod, just a playstyle from my understanding.

If I wanted Real life I'd play real life.

I don't do Dead is Dead, the idea is dumb imo.
Everything else I can handle.

I try to roleplay whenever I can, and so I end up using most of this criteria.
I like to rest at the local inn for the evening when it is dark and the shops are closed when I get back from exploring.
In the morning, I will grab a bite to eat (if you sit down in a chair at the taverns/inns, a waitress will actually come serve you) before going out and selling my stuff from the previous day off to the merchants and shops.
Next will typically be a little bit of smithing/smelting/tanning depending on which character I am playing. If I have extra crafting materials, I hand it to my local follower or put it in my house.

I disagree with the no fast travel rule, however.
You wouldn't be able to explore more than a certain radius around the major cities because you would have to go find a bed to rest in for 8 hours and get some food.
For fast travel, I just imagine my character walking/running that distance in however much time, because the in-game time is affected by fast-travel.
Not to mention that if you are over-encumbered, you can still fast travel if you're on your horse. Just imagine your horse is walking that distance in however much time.

I am not quite up past Adept difficulty. Have not gone too terribly far as I have been trying out all the races and playstyles.
But, I feel if you roleplay properly or at least try to, you will end up following most of these rules anyhow.
I've always thought TES is a tabletop made into a video game. It's why I'm still playing after 10+ years

Being able to take on multiple enemies without any strategic thinking what so ever is entirely unrealistic. Treating enemies as equals makes the game realistic, I mean if you're going into a bar in real life and picking fights, you'll likely be fighting multiple people at once, let alone have to worry about the authorities. Just think about that a little bit. Do you think you could take on several people at once in real life?

Did you read the op? Sounds like an interesting mod if someone made it one.

no, fighting multiple enemies is entierly different case. There ARE people who have hard time even in a 1v1 situation on easier difficulty.

i suppose my real question is

do you want to set the rules for hardcoe player and call it immersive

or

do you want to set the rules for immersion sake and open up to wider audience?

edit: personally id prefer the first rule be "choose the level difficulty that suit you at the beginning of the game, and it cant be changed later on"

Now this I like, a lot. I shall even go as far as to edit my post and change it to this.

Challenge Accepted! Once I fully complete just about everything I can do on my first and only character, I'll try this out with my next character.

I think 150 pounds is too little, because with heavy armor and no perks, you can get close to that with just what you are wearing and your weapon/s.

I see what you're saying, certain rules like these could have exceptions, but realistically, how would someone possibly be able to carry heavy armor PLUS an additional 150 pounds worth of loot?

What it'll encourage is multiple journeys after completing a dungeon / the like to take loot back home.

I wont do dead is dead. Ill just roleplay waking up in a abandoned house or deserted road with some of my possesions missing.

Ok, realism in a game with dragons and magic.

Master difficulty is not realistic at all. It shouldn't take 50 shots to take down an enemy. There needs to be a difficulty where enemies die in two or three shots, but you do too.

psshhhhh, thats not the point. Its a fun mode / play style and I will certainly give it a shot in my next play through

Someone else who failed to read the op.

Well it all sounds good and I'm crazy for suggesting this but..... for realism you would need to walk everywhere. Not run. Would you jog back and forth carry a hundred fifty pounds? Just an idea. I wouldn't implement it but at least the 300+ hours would not be too hard to reach.

This made me think of what might be a really cool idea.

This made me envision a mode where, if you died, you'd have to make a new character. And the game did not let you progress further and then the game tracked your highest level and let you level infinitely, then put you on some sort of leader board. You could brag to friends or try to get farther and farther in the game. Totally optional mind you. This would kind of give you a multiplayer experience without multiplayer. I can imagine myself trying to reach a higher level than my brother-in-law.