But in reality, there was almost nothing removed from Morrowind to Oblivion except a few armor slots, (which was done to eliminate over stacking of enchants that happened in Morrowind), Spears (which were a little strong and did need a little tweaking) and levitation (which if you made a half decent mage you would know how OP it was). There were a few other minor things removed but were replaced with more complicated systems and other things like mounts.
A few armor slots, spears, and levitation...and crossbows, thrown weapons, mark/recall/intervention spells, world transportation, unique non-quest artifacts (and artifacts in general), 2,000 or so NPCs, 5 or 6 factions, faction skill requirements, faction rivalry, vampire clans, werewolves, ability to delete spells, ability to fail at casting spells, ability to fail at alchemy, new in-game books, thousands of lines of dialogue, vocal variation between races, individual types of armor, individual types of weapons, unique non-quest dungeons, working mines/farms... (sorry, I just couldn't let that pass)
And as always Todd "I think an RPG is me riding around on a horse killing things" Howard never fails to disappoint. He wasn't so bad in these videos...he didn't make me cringe even once. It's obvious he read the forums after Oblivion was released which is a positive.