I remember in Morrowind you had nothing. Sure you could buy or steal some good stuff right away but it really didn't make that big of a difference, you could still get owned by creatures.
Funny, I remember in Morrowind everybody threw their money and rare magical item at you like they didn't needed it...
Amongst the first things you get from the beginning of the main quest is 1000 gold, a magical flaming shortsword, a full plate armor, a magical healing ring, several healing potions and teleportation scrolls...
People say how easy it was to get money in Oblivion, but compared to that I was bathing in money in Morrowind...