I would love for this to happen, especially if we could take Dragon Age's pause and play fluid 'turn/time based' party strategy game play and give The Elder Scrolls some really engaging combat, rather then the amusing combat it carries around now. But that's a bias I have for thinking Dragon Age 2's combat is the absolute best thing ever.
This is also a good move for Dragon Age. All of those super padded repeat caves and their guarded in rotating shift denizens could have a real home. The Elder Scrolls leans a lot on recycled assets for its sheer size, but I enjoy searching around extra environments and they don't force me to trudge through a hundred bodies to get from quest point to quest point if I just want some story progression. It would streamline the narrative experience while actually adding more side quest availability rather then just taking it out and making a shorter game.
You (may?) have to admit that assaulting a bandit's lair 4 man tactical style is a lot more fun then *crouch, roll, roll, roll, mouse 1 and 2=15 to 30x damage+one handed perksx2 hits(and Plus power attack scalingx3 hits if you know it's big enough to live 4000 damage (It isn't, ever)), Repeat.
I would love to have "Dear Varric, please learn to parry. Love, your innards." instead of "Patrolling the mojave almost makes you wish for a nuclear winter" or "I'm sworn to carry your burdens."
There is probably more I could ramble on about but I'll stop myself there.
Greatest game idea ever.