As for the game being slow or fast paced, I say there should be a mix, you can do whatever you like, sit and stare at the sky while indulging in some well deserved rhinotillexomania, but as soon as you accept a quest you're committed, meaning there should be some kind of time limit to quests. Normally time limits are a gameplay device I hate but they had some in Mass Effect 2 that worked really well. They don't have to make the time limits impossible to get either, just implement them so that once you accept a quest you can't afford to sit on your rear for another two weeks before deciding to pick them up.
That being said, some quests don't need urgency but honestly, if you have to save someone from a cave full of trolls, it doesn't make any sense to hang around for a couple of days before heading off.
perhaps but this may go against the idea of TES which is primarily 'play the gmae the way you want'. if there is some sort of hardcoe mode perhaps this could be a part of it? while i don't tend to sit on quests i would also dislike being forced to complete them.