I got so excited after last nights announcement I booted up Oblivion for a new run through. What I'd really like to see in Skyrim is the ability to keep weapons and armor at your level even if they are considered lower level gear. For instance, I like the fur boots and gauntlets I got last night but they'll be obsolete when the higher level gear comes around. For me, it's about the look. If I want to wear fur (or any) armor, I should be able to upkeep or upgrade it to my current level. It gets old wearing the same high level stuff, customization is in the eye of the beholder and my eyes like the look of lower level stuff. Same with weapons, and heck...even clothing should be able to be slightly modified or upgraded.
I may get a lot of flack here, but Two Worlds has a neat little stacking system where you can keep lower level gear relevant, I hope we can see something similar.
Don't get my started on customizing colors either...haha!
What do you guys think about this implementation for V?