@OP: That's what makes these games great!!!
7PM: :Ok, time to get a little further in the Thieve's Guild questline.
1AM: What the hell did I just spend all of my time doing? I didn't even get to Riften.
Ohh yeah. And the best is, there is possibility to do quests fast for the ppl who playing game for the quests. I mean you can fast travel, or get carriage everywhere, and if you cant fast travel, you can just run to the spot, finish the part, then fast travel back. But you can ignore the fast travel, explore, enjoy the random encounters. You dont have to walk on foot if you have bad mood, but its an option, and thats great. This game is optimal to anyone IMO.
Since i saw great NPC vs NPC fight at night, i ignore fast travel. From a distance i saw fireballs flying from ground to the sky. I asked myself WTF i wanna find out where that comes from. I ran to the spot, saw a mage fought a swordsman. They ignored me all the time, till i helped to kill the mage, becuase i hate mages, imo its easymode. OFC the guy didnt said "thank you" for it, but i dont care. Was awesome to see that not just i get attacked. Its a living world, and not just enviroment vs player.