Since the Skyrim announcement I plowed through a few Let's Play video series on Youtube for Daggerfall, Battlespire and Redguard. I also reinstalled Morrowind GOTY and went through the main quest. I recently reinstalled Oblivion GOTY and have been playing through the thieves guild, dark brotherhood, and just last night beat the Shivering Isle main quest.
It's been a fun to see the earlier games (since I never played them) and it's been fun to see how much nostalgia has played into my opinion of Morrowind and Oblivion. A few fun facts:
Morrowind:
-Vvardenfell is much smaller then I remembered, especially with MGE with infinite view distance. The fact you literally walk so darn slow at the beginning helps hide this as well.
-Cliffracers are as annoying as I remember, all 10 of them hitting me at once

-Morrowind's visual style and main quest are still amazing.
-Text dialog svcks, seriously if I didn't have most of it memorized id find the game really inaccessible in this day and age.
Oblivion:
-Action based combat was a great improvement
-The map and compass are useful, but perhaps needed to be toned down
-The game still has it's "stop and stare" moments with the graphics, especially sunsets.
-Shivering Isle is the best part of Oblivion, in most every respect. The Dark Brotherhood is a close second.
I think once I am done with Oblivion I am going to move onto my huge backlog of games purchased from the Steam holiday sales!