Even though i started with Oblivion i have to say that Morrowind was better because of the lack of level scaling and the "lone adventurer in a mysterious land"-feeling was in it.
I would like a combination of Oblivion(combat,graphics,balancing) and Morrowind(no levelscaling ,traveling services, factions) plus something new that we haven′t seen yet.
And welcome to the forums, Umbra′s Arm.Have a http://images.uesp.net//c/c4/Fishystick.jpg
EDIT: Damn it! Outlander gave it first