I want the ultimate fantasy game, with interesting things to see and people to meet, locales to explore, secrets to find and hardships to endure. I wanna game that will be brutal but rewarding.
Improved Combat
Make it so you can shield bash, disarm opponents, and block attacks by turning your blade at a certain angle, and dodge out of the way of attacks as well as use the terrain ( If your being pushed into a wall and you have high athletics, then you could wall run over your opponent). Also, it would be cool if you could damage certain body parts by cutting off someones arm or smashing someones kneecap in with a war hammer. Finally, it would be cool if they had an "Arts" system, where you choose a particular combat style by studying under a master and then you get bonuses for using that style ( The Way of the Dual Wield Swordsmen would get an animation change to fit a unique style, and also get a boost for swiftness of attacks, but at the same time, to get the full benefits, you must adhere to a rule or something ( Maybe never using your swords to kill a women or Not wearing Heavy Armour) Studying under masters net you the ability to use the art, as well as continuous training under the master will increase its effectiveness.
More Weapons and Loot
Skyrim I felt lacked in that regard. it had beautiful items, but a bit to few. They should make the load out set look like this: Helmet, Cuirass, Left Guantlet, Right Gauntlet, Grieves, Pants, 2 Rings, and a Accessory ( Like Capes, Feathers, A Skirt, something to add more flair. They should also make more types of Armour types ( Copper, Gold, stuff like that), as well as make the most powerful Armour types more rare ( You'd only find something Daedric if you REALLY search for it.) Also, more weapon types. Crossbows, Spears, Flails, Maybe Muskets, Chakrams, Battle Staffs.
Magic
They should give magic a more mystic feel. Make it feel like some powerful unstable force rather than another game play type. I want magic to feel like a character could just stick to one School of magic and still be able to kick ass. ( Like an Illusionist can turn invisible, Give People Nightmares, Puppeteer people for a short period of time, Make people go insane or even make people kill themselves. A Destruction Mage can focus on Area of Effect Spells that Destroy the most powerful opponents or he could focus on being a quick shot that incinerate people before they can draw their weapons. A Downside is that the Spells can fail or backfire, as well as producing an opposite effect maybe at random. Rather than just learning better spells later, it would be cool if you could just keep practicing the use of the spell to make it stronger and less likely to fail. This would mean less Fortify XXX bullshit spells that no one uses as well as give people the idea that they are a strange ability. Also, Levitation, Transmuting, as wel as more summons and elements to use ( Water, Earth, Crystals?). Finally, it would be cool if you could enchant items to have particular abilities ( Like A Sword enchanted with Lighting could create a giant blast of thunder. A Flute you enchanted with Sleep will make all the people around you go to sleep.
Leveling
I don't really like Level Scaling, so it would be ok if they put you in the area with lesser creatures, but at the same time you could run into a Level 3000 Daedric Mage that would kill you before you even got close. Hell, you could even make up stories like A powerful monster lurks through these woods at night, don't go out! make the lore centric and antagonist All powerful, while making Normal Bandits and Goblins there too. It would be an awesome feeling after coming so far, and defeating such a powerful opponent rather than just beating everything at level 1.
Quest and Lore, Gameplay, Misc.
Make fewer companions ( Maybe 2-3 in every faction), but improve their AI, and give them their own quests,Personality, Thoughts on particular events that happened in the world or recently, as well as offering ways of improving their abilities. They should each also have a unique voice for them. ( Something akin to Bioware.) They could also be used for team up attacks. ( A companions grasp an enemy, and then you finished it off by cutting your sword through it. So yea, make them more like Vilja.
Also, if a war is to happen, make the battles bigger ( 5 people? Seriously?). Tyranniconn has the righht idea. Also, bigger, Fiercer monster types ( Stuff like Griffins, Hydras, Giant monsters would be cool two. More mount types can also be cool.
Also, they did say the Elder Scrolls we're more a realistic fantasy, but they should really increase the fantasy in the games. Wizards teleporting around the towns, Daedras serving tea and cookies to restaurant customers, A town at the bottom of an ocean, A Tribe of Skooma drinkers with the ability to levitate. Skyrim was epic, but I found it a bit to realistic for a fantasy game.
There should be more in depth factions. The 4 dominating Factions are The Mages Guild, The Fighter's Guild, The Thieves Guild, and the Dark brotherhood. But it would be really cool if you have like sects or mini guilds in each faction ( The Fighters guild could have a sect in some town that are known for hunting down Warlords. Another town might be known for Monster Hunting. In the Mages Guild, there could be a sect that specializes in a particular Spell or have some gimmick that helps them differentiate.
Finally, the AI is for the most part good in towns, but it could be better. It would be nice to see NPCs rushing when it begins to rain, or Laugh when they see something funny. Random attacks on towns would cause all the NPCs to run in terror, and if you help them, they would remeber you. ( Defending a young boy from a Daedra will make him like you, even though fighting the Daedra was never part of a quest.)
So making my dream game would be quite an undertaking. Skyrim still a preety good game though.