What follows is an extremely detailed opinion of Skyrim, if you're on the fence I hope this helps.
All right, this is kind of an odd request, but I have a question for people who:
1.) Loved Morrowind
2.) Thought Oblivion was awful
3.) Thought Fallout 3 was kind of mediocre
4.) Loved Fallout: New Vegas
How's Skyrim?
That depends. What was it that you loved about Morrowind and disliked about Skyrim? I've only very briefly played Morrowind so admittedly I don't have a complete understanding on it but I'm going to make an assumption and assume that you enjoyed the overall atmosphere and diversity of the landscape in Morrowind, much of which was seemingly missing in Oblivion due to the landscape of Cyrodill being more or less a gigantic forest, much less "fantasy" and much more bland. Possibly the customised dungeons in Morrowind over the randomly generated, similarly bland dungeons in Oblivion which lacked any purposely placed loot and thus defeated your desire to explore as you could make the best items without venturing into much dungeons at all provided you got the Sigil Stones.
If that is your reason, the atmosphere of the game and the "bland"ness of Oblivion, then I think you won't have any problem with Skyrim. Although the world of Skyrim, by many, may be sumarised merely as "a plethora of hills and rocky landscape scattered around forcing you to run verticle slopes" I would absolutely disagree. The landscape of Skyrim is far more diverse than that of Oblivion. From marsh areas (swampland would probably be better to describe them), mountainous regions, open plains, forested areas and tundras, Skyrim's landscape is far more diverse than it may initially appear to be on the surface. Now don't get me wrong of course, there is still a large amount of mountains on the map but there is usually roads and paths leading up them (which is why the 3D map is useful for traversing the world despite the fact that it makes finding things on the map [ironically] difficult). Horses also are completely ludicrous on this aspect as they can go up almost vertical slopes and thus this makes exploring mountains much easier than they were in Oblivion. The music also, I feel, is more reminiscent of Morrowind's soundtrack than Oblivion's is and I slighlty prefer it (while playing) to Oblivion's which itself is incredibly formidable. The dungeons however, despite many supposedly being hand-designed, are still not very rewarding because Crafting is so completely overpowered and the loot you find is oft-times worse than what you have which can remove the desire to explore other dungeons. I must admit I do find them much more enjoyable to explore than Oblivion's though. The graphics are surprisingly very good in Skyrim (compared to previous Bethesda games) and the art design in Skyrim I prefer over Oblivion for definite.
If your problem was gameplay related, specifically with regard to the streamlining of the game, Skyrim will not be for you. Although the UI is much easier to navigate (or at least, with a controller, with a mouse and keyboard I imagine it may be much more frustrating) a huge amount of the skills have been streamlined, removed or merged and the Major and Minor skill system is gone. A large amount of the perks are merely modifiers and there isn't a major difference between one level and the next as a result, certainly not as much as Oblivion or Morrowind where every 25 points in a skill was significantly better. Magic in Skyrim is also handled rather poorly. Destruction in particular is completely useless later in the game doing almost no damage when compared to the vastly superior sword and arrow paths. I personally have found almost no reason to use Illusion or Alteration either when playing the game as I've found most of the magic that makes use of those skills to be rather unneccessary. Restoration and Conjuration are really the only significantly useful (in my experience) magic paths, Conjuration having been merged with Mysticism makes it an almost laughably overpowered skill as you can summon Daedric like weapons with soul trap on them while your two summoned (or revived) companions and your normal companion endlessly obliterate everything in front of you. Restoration, with the right build can also be incredibly overpowered (a Vampire Necromage being the highlight of this), as you stand there healing yourself spamming attacks at enemies as you heal. In combat sword, archery and thief gameplay feels improved slightly from Oblivion so if you have no problem with that then the game is more or less fine, the magic however is more or less useless. In addition, the alchemy, enchanting and smithing (not as bad) skills make the game's difficulty completely laughable.
The one thing that I will easily give Oblivion over Skyrim is the quests. As I've stated already, I only briefly played Morrowind so cannot compare the quests overall to that but as far as I'm concerned Oblivion's questlines were vastly more interesting than Skyrim's and this is Skyrim's biggest flaw for me, even worse than the streamlining that has occured. With Oblivion, even though I viewed the gameplay as a chore for quite a long time, the quests were so good to me that I was able to overlook the gameplay for at least seventy hours. The Daedric Quests, Dark Brootherhood's, Thieves Guild, Fighter's Guild, they were all, to me, excellent, incredibly enjoyable and I was easily able to be much more lenient on the gameplay because of this. Even other individual quests such as the Painted World quest and the Dangerous Game-like one were pretty good. With Skyrim...not so much. There is still many good quests, the Daedric in particular stand out and are (to me) definitely the best quests in the game rivalling the ones in Oblivion, but the other questlines are severely lacking as far as I'm concerned and it feels like a chore to do them, that I'm doing them solely out of my own obsessive compulsion to clear my quest list and this feeling occured far earlier than it did in Oblivion (where it was only just before I stopped playing at about 170 hours that I got this feeling).
This post:
http://www.neogaf.com/forum/showpost.php?p=39257049&postcount=108 More or less summarises my general feelings on the game and although I lasted longer on Oblivion, being new to The Elder Scrolls probably helped.
TLDR: If the world put you off Oblivion and made you love Morrowind, it's worth a risk at half price. If you hated the streamlining in Oblivion, avoid Skyrim at all costs. If you liked the questlines in Morrowind but disliked the questlines in Oblivion, approach with extreme caution. I know this is long but I really want to help anybody who has similar feelings make the decision and I want to be absolutely thorough so you know what to expect
