Ive always wanted to be able to be a sort of Guvenor or Lord over my own town, sort of like the Fighters stronghold in Oblivion, just bigger and more dynamic.
I think it would be great if one could buy some land somewhere, and decide where to buy a house, it could start with a small house, then you could upgrade it to bigger, first wood then into stone, then to small castle, then bigger and bigger, perhaps even choose what kind of rooms you want, decoration, exterior and some interior so that no castle would look the same.
At same time one could be able to buy more houses on the same property, then random generated characters would come and ask if they could buy ur other houses and move in. After a while they could pay taxes, you could raise a wall to protect the town, and eventually hire guards and perhaps even assign jobs to people(like for example hunter, then they would travel into the forest with a hunting dog, and you would get a small amount of what they gather, aswell as it would add to the cities food supply), one could be able to change the taxes, which would adjust how people react, there could sometimes be bandits raiding ur town, so you had to hire guards to protect the city. If you leave the town undefended you could come back and find half of ur town murdered perhaps.
And if the tax was too high maybe the people would first start trying stealing from you, and then maybe even attack you. I think something like this would be great, even a small version of it, it wouldnt be too far off from whats already in oblivion like the fighters stronghold, just more advanced and alive.
Thats one of the few things i really missed in Oblivion, something more to do except quests and fighting. I also missed pets, it would be nice at least being able to have a dog or cat in ur home(even if it was really simple). I hope TES V will have more things to do outside of combat.
Oh and beards, there must be beards. Im a Norwegian, and having northmen(Nords) with no beards is almost a crime
I always wanted to have a beard in oblivion, found it rather strange since pretty much every other rpg has it. There should also be a few more hairstyles, and perhaps the choice of bodytype(like at least 'fat' 'medium' 'light' or something, shouldnt be too hard to adjust the armor textures for that, and it would make each character seem quickly more unique, the npcs too.
As for more common things, i would want more guilds, at least the imperial legion, and a few others, perhaps some sort of bandit/barbarian guild that lives in the mountains or the forest, which could give you missions for anything from sabotage or war against other barbarian clans, against the imperial legion, etc. Like a bit evil version of the fighers guild.
And necromancy, a guild for evil mages. I also hope they improve the magic system a bit. And also add more types of weapons, i would like to see throwing weapons again, aswell as spears.
And more types of armor, in oblivion there wasnt too much choice once you reached the last type of armor.
Another thing i would like is random prisoners in the prisons, there could be theives in the cities, who try to rob houses, and when cought by guards they would end up in the prison for a few days, that would been quite cool and would also create more life to the town if one could see a thief being chased by a guard or fighting.
Random brawling sometimes at the inn or in the streets could be fun too. More life then just random talking and walking around
Thats what i can think of right now at least, Oblivion was generally awesome, and probably the best game ive ever played(over 14 gaming years). It wouldnt need many tweaks to become even more awesome. What i really liked about Oblivion was the AI, some really funny random situations sometimes happend, the voice acting and graphics was really great too so i hope they keep most of what they did in oblivion and dont change too much, but instead add new things.