More Morrowind, less Oblivion.
More armour slots.
More balanced combat system, it took me 40 arrows to kill one enemy by level 15 in Oblivion.
Your turn.
Theres already been 188# threads on this check elder scrolls series for thread 188.
But we can still dream till the actual release wether it changes anything or not.
I hope clothes and armor will be able to wear like we did in MW