I'd say as short as possible:
In general it was a great game. Morrowind beat it RPG-wise though, I think.
It had some flaws though. There are the more obvious ones, as the level scaling, quest markers etc...
I also think that fast travel was a bad step made by Bethesda. They should have kept going with Morrowind's fast travel system.
Furthermore, I think that there were not many choices in the game. Quests felt static and like a routine chore. In addition, there were no unique artifacts gained by exploration (all was received from quest rewards).
Dungeons also felt bland and kinda all the same, in a way. Landscapes felt a bit of the same direction; no "unique" landscapes existed. We all know the reasons of this.
Compass icons was also a miss according to me. It took away quite a bit of the satisfaction of discovering something and looking carefully after hidden dungeons.
Despite of all this, I think it was a great game. If I were to rate it as vanilla, I'd rate it 8.5/10 or 9/10.
I'm glad you're being honest. You're not flaming and you're not being disrespectful. I respect your feelings in regards to Oblivion, but I can't say that I fully agree with you.