Well less variability in game, thats feel of too much genericness feel of unfinished work ruin game experience, and thats feel based out of many things not only from less equipable light sources, didn't you not feel it while playing Oblivion?
I cant play vanilla Oblivion because of this but Modblivion feels much better I must say.
Nope, never had that issue. I started with Arena and played the first two games and when Morrowind came out I was disappointed with it. Sure it had a lot of little things but most of them you think "oh cool" when you first see them but then they quickly get to the point where you don't even notice them at all. The only thing I really enjoyed about Morrowind was the main story, which was the best of the story. Then Oblivion came out and improved combat and the world and it's inhabitants and made the side quests amazingly deep and fun. Finally I felt like I was actually in the game for the first time since Daggerfall, maybe even more so as the world was closer to feeling real. Personally if the main quest line was longer and more involving (the story was fine) and if the few problems Oblivion had (one being level-scaling) weren't there then Oblivion would have been better than Daggerfall. Now it seems they might actually pull this off. They have already done it the way I would hope they would, now I just need to see it in action and see how if the side quests are as good as Oblivion's and if the main story is as good as Morrowind's and then it might actually pass Daggerfall.
But I digress. I would be happy to see the return of individual light sources but it wouldn't be ground breaking to me and I would rather see me be able to throw a lit torch down the hallway to light an area or have light spells stick to the wall or floor when they contact to light the area as well.