First of all weapon hotkeying is gone. You can't just do it as you did in previous TES games. Instead, you have either 3 buttons to pick each slot (slots will be explained later) or one button to cycle through them and one to equip/holster weapon. You assign weapons to slots in inventory, as you're equipping weapons in TES.
Slot locations are:
-back - Weapon in this slot is placed diagonally across your back. This slot is restricted to: Bows, Claymores, Long Swords, Doublehanded Axes and Hammers.
-left hip - Just like swords in TES IV. Restricted to Long Swords, Short Swords, Singlehanded Axes, Maces, Daggers.
-right thigh - weapon is placed bit lower than left hip slot, on the opposite leg - Restricted to Short Swords, Dagger, Thrown Weapons (shurikens, darts).
If any weapon type was omitted then let me know
So instead of hotkeys you can quickly get up to 3 weapons, and of course you can change weapons in slots in inventory screen. Big plus of this system is that your character can look like he's carrying more than 1 weapon at a time.
BUT, that is not all!!! If there'll be double welding in TES V, then if you dragged second weapon onto occupied slot, then you'd be asked if you want to doublewield. If you responded that you wanted it then symmetrical weapon would appear (in case of back slot you'd have crossed swords on your back, and case of thigh and hip slots is pretty obvious)
So what do you think?