I'll take it one step further... I'd like to be able to change my facial appearance in game, as well as my hair and facial hair styles. Fallout 3 had these features with the facial surgeon guy and the robot butlers and such. I see no reason why their can't be some mage or something who can change your appearance in game...
NO!! I
do not want to be able to change my face! Because then people will complain about not aging and whatnot! And I don't think its very realistic to go from a young, dark imperial to an old, gray Imperial in a matter of minutes.
Leave it at hair - e.g, your hair & beard gradually grow longer, and you have the option to trim it, or restyle it at the press of a button. But then that should be realistic, you shouldn't be able to go from a cropped hairstyle to a ponytail.