Bethesda has amazed me before though... I think the "fighting" portion of this game should have very many similarities to realistic fighting games if possible, just like how i think that the "stealth" portion of this game should have many similarities to good stealth games like Thief and Metal Gear Solid.
BTW, Metal Gear Solid 3 (not a fighting game) had a pretty nice CQC system for the PS2, involving kicks, counters, grabs, chokes, punches, and other stuff.
MGS 4 was pretty good too, almost identical if i remember correctly, but i felt it was a little better in 3 for some reason.
Probably because in MGS3 it was a lot stronger and easier to pull off than in MGS4, though it makes sense in the context of the game considering the protagonist is Big Boss (in MGS3).
A more indepth hand-to-hand would be good, especialy with some form of takedown or hold/throw. The way I see it, is with weapon combat you have choices on the style of weapon, blade, axe, blunt, one hand, two hand, sheild ect.
I would like to see perks that alter the way hand-to-hand works, maybe a series of perks giving you takedown/throwing moves, or a series that focuses on body hardening and pure striking force.
Could even make it branch out into different martial arts styles.
and something like the CQC in MGS would be awesome. >=D