I think we need to go backwards rather than forwards when looking at combat in TES games. On paper, Morrowind had the best combat system by far. It's the execution that was botched. The reason Morrowind's combat felt lacking in execution was that the technology of the time could not properly simulate the combat that was meant to be conveyed. Now, especially with a new personalized engine, it would be much easier to incorporate a dice rolls system that actually simulates whats happening. The problem with Morrowind wasn't that you were missing the enemy, the problem was that you saw yourself hitting the enemy even though you really didn't. Depending upon the stats that determined a hit or miss, the game would simulate the hit. If the enemy has a really high agility, then the attack would be a miss because the enemy jumped out of the way.
Now the biggest problem is that if the enemy is cornered against a wall or cliff, what happens if they have the agility to dodge the incoming blow? Well, this adds a new element to the game which makes combat even more intuitive and strategical. If an enemy is cornered, then the AI senses that they cannot dodge the blow, and therefore they won't dodge the blow. So a character that may not be skilled in stats may still make up for it with the skill of the player. This is a solid compromise between player and character skill. Player skill becomes less about twitch reflexes and more about tactical thinking, and character skill limits the ability of the player by challenging them to be more creative.
I certainly don't think this feature will be carried out in Skyrim, but I think it's something to shoot for in the future. I view it as a renaissance of TES combat rather than starting from a blank slate.
I agree wholeheartedly with the above post. Though sadly, I even agree with the part about how we'll likely never see this type of system implemented.
And to all of you screaming "NO!" and "TES is an RPG, not an ARPG!" and the like, get the [censored] over yourself. In case you hadn't noticed,
Oblivion's combat had practically zero RPG elements in it, purely action. That's likely the way
Skyrim will be, too. So stop whining and come to terms with the fact that TES, in regards to combat, is now based on action. That said, it might as well be based on
good action, if it must be so based in the first place.