My dream elder scrolls game would be like this:
It would feature the whole of Tamriel. The race you choose selects your starter province. Argonians in black marsh, Dunmer in Morrowind etc.
Each province would have its own mini main quest, its own cities, economy etc.
There would be one big main quest that you probably could only start late in the game, when you have enough influence in your home province, and the leaders of the other provinces like you enough. (By doing lots of good deed quests for that province, or the mini main.)
It would be done with the attention to detail, hand placed items etc. that Morrowind had.
I realise that this is a long way off, probably TES X. And even then each province would probably need its own disc.
(Perhaps sold seperately. Each province could be a game on its own, but other discs would lead your character in new provinces and on the road of the meta main quest.)
Will probably never happen
But that would be my dream TES.
My first disc would be: Summerset.