Not sure if we needed a PT.2 to this thread. The last page of the previous one was quite heated. But I'll be glad to "reset" the course of this thread with my own opinion on the matter.
Daggerfall had journal logs but no proper way to organize them.
Morrowind had organized journal logs but no proper way to track your quests.
Oblivion had trackable quests with brief yet informal journal notes.
Skyrim was the same but with strictly formal quest notes.
There is literally no further simplification to be made, unless the quest system is completely redone. (ie. There is no true way to complete a quest) and for what it's worth, I'm very happy with the way it's turned out. It allows me to stay connected with the story and what's currently going on. If the opportunity arises and I feel the need to travel off the beaten path and explore, it's there.
As someone who has played the hell out of Morrowind, I really appreciate map markers as I'd constantly get lost due to the really short view distance. With MGEXE, that's not really a major issue anymore, especially when you've had a decade to memorize the locations of everything.
These games are only going to get bigger, and are only going to become more cluttered. Some sort of way-finding system will definitely be crucial.