Generally speaking the people that have that many hours plus on one character are Telling a Story or Role Playing with their character. This is pretty much what I do, all my characters have stories, some are very short, some are rather long.
If all you are doing is smithing to get to Deadric armor, that in and of itself would be boring to me, but now you have a character that is very out of balance, almost no skills but armor that has probably make them on a lvl with enemies that could potentially walk all over it.
I would find a purpose for your next character, a job or goal. You don't need a great big involved back story. My characters generally have a decent back story that goes towards their motives, history, type of skills, basically who they are. Yes it can be very complicated or it can be simple, that depends on you and what you wish to do with it.
If deadric armor has been your "thing"... go either with a character that uses light armor, clothing or mage robes. Don't grind any skills, use them and allow their use to lvl them up. My rule of thumb is I only "train" a skill that is lagging behind for one reason or the other. A character may only use archery to fight dragons and then only when they are airborn, which means archery is going to lag pretty bad behind their other melee skill. So I will find an NPC who trains archery... or find a dungeon I know I can mostly use archery in to clear.
To smith I generally only keep my armor rating at what is being worn by enemies or found as loot.... meaning if my character is ( role play wise) staying in Iron armor and I am seeing the mercenaries in Orcish, then I will ... when I get to town, Temper or improve his/her armor to be within range of Orcish armor. Now I play on Adept or Expert, when I play on higher difficulty, I keep my armor rating a little higher, for obvious reasons. It works for Light armor as well.
Every one is different, just because I can spend 300 to 600 hr's telling one characters story, that does not mean it is something that you will find fun. Like Neil and others I know... I have not seen or done every dungeon in the game. I know I have not done the majority of Deadric quests..probably never will. I have over 6K hr's on the 360 and probably a little less than 1K hrs on PC ( I got it earlier this year ) maybe more... I stopped keeping track.
Ick... would end up writing a book... lol