We already have a few threads discussing the same subject...
The first one is still recent, feel free to continue there
http://www.gamesas.com/topic/1480037-what-if-morrowind-ever-got-graphically-remade-like-fable-tlc/
http://www.gamesas.com/topic/1421347-would-you-play-a-revamped-morrowind/
http://www.gamesas.com/topic/1415712-re-make-morrowind-for-the-xbox-360/
http://www.gamesas.com/topic/1364066-morrowind-10-year-anniversary-release-for-xbox-360-and-ps3/
http://www.gamesas.com/topic/1333356-should-they-make-a-remastered-version-of-morrowind/
http://www.gamesas.com/topic/1305445-will-morrowind-ever-be-remastered/
http://www.gamesas.com/topic/1408008-remake-of-morrowind/
http://www.gamesas.com/topic/1391032-remaking-of-morrowind/
http://www.gamesas.com/topic/1385469-morrowind-remake/
http://www.gamesas.com/topic/1376321-morrowind-remake-epic/