Would any of you care to explain why you want full voice-over?
Just for realism? Because Oblivion VOs didn't feel that realistic to me. Short, repetitive dialogs and the same voice for 200 people aren't realistic either. So why make the trade?
Because it's so damn logical that it doesn't need to be explained; but I will for the sake of it. I come up to a character in Morrowind. I then speak to him/her/it. I see a list of topics to my right. I click on one and get a good, solid answer. Sweet. I leave the conversation and go up to another NPC. I start the conversation and see the same topic that I've just talked about with the other NPC. So I click it, thinking that the person will have his own opinion on the subject; but no. He says the exact same thing! So I run around the town, asking others about the same topic and all of them say the same thing. And you're talking about immersion... See when I "speak" to someone in Morrowind, it feels like every person is a living encyclopaedia. The whole game freezes and you read a wall of text. I Might as well read the books. "But you use your imagination! I imagine the NPC and me talking to each other and stuff!!".
1. You don't talk to each other. The NPC is giving you a lecture.
2. If OBs conversations weren't so stiff and more like Mass Effects, they would rock. What I mean is that it does not freeze the world around you when you speak to someone with only their mouth moving, but you can actually see them as a whole and can move your head while they do hand gestures, face gestures, some walking about ect.
Oblivions dialogue was less informative, yes. But why care so much when you hear the same thing in Morrowind all the time anyway? You do in Oblivion too (Like the rumours), but it comes down to one thing: OB included not only sight, but hearing into the experience. THAT is immersion.
EDIT:
WoW came out 5 years ago. It's also an MMO. MMOs have so much content and quests that they're obviously going to be voiced... But wait- The Old Republic! Even MMOs are changing.