I'm not trying to be mean but judging from the poll I guess everybody wants to get Daedric Armor at Level 2 instead of getting it at a high level. What they could do and I just thought of this right now is basically have different groups wear different armor like if your doing to fight Bandits expect Fur and Leather Armor but if you fight Maruarders expect Iron, Steel, Dwarven, Orcish. The Bosses though should have leveled Armor.
Not scaling the monster levels to the player level does not need to mean getting high level loot at low levels.
You could have level scaling monster to different areas, not player levels, so we can have low level areas with monsters and loot suitable for newbie players, and high level areas with a lot of high level monsters mixed with low level ones and the chance of getting some high level loots.
If a low level player is lucky enough, or smart enough to remain alive in higher level areas and can kill higher level monsters or loot boss containers, then the higher level loots that they find there, is indeed their righteous trophy, and should give them a great sense of accomplishment.
As Orzorn said, level scaling is used in many games. Oblivion was just over zealous with it. When you say you want no level scaling and hold up a game like Morrowind as an example, you're contradicting yourself.
I say I want level scaling to the danger level of an area, with a very minimal scaling to the player level, but nothing more than scaling the level of monsters and loot for a level or two.
The differentiating of danger level of areas to newbie areas, low level areas, mid level areas, high level areas, and extremely high level areas, would guarantee that players find the place that its environmental challenge and loot found would give them the best mix of effort and the resulting sense of achievement, so if this place is too much for you, then retreat to lower lever areas, or if this area seems like a vacation, then find harder places and dungeons.