I agree, Finalchrono. At first I thought it would make a great online multiplayer, if server/party groups were kept between 5-10 players. But, the longer I played, the more I came to appreciate the immersion offered by the game. I have a hard time getting into games I can't feel at least partially immersed in. A big reason why I could never get into games like World of Warcraft: I'd be setting up my character to quest, and follow the story line, and run into half naked players tea-bagging each other at every turn. Really ruined the game experience for me, and one thing I fear for if Skyrim goes multiplayer. I just don't think I'd be as captivated by the story and the landscape if there were camps of half naked Khajiit cybering in leet speak dotting the hills. Not to mention, it really kind of violates a lot of the plotline to have multiple heroes.
If the idea pushes ahead, my vote would be for low-occupancy servers. Or maybe the option for players to host created, or private servers. 5-10 players at maximum, making questing in small parties possible without having the game feel over crowded. I mean, can you imagine 40 players gathered around spamming 'Unrelenting Force', over and over? Forget immersion failure, you're talking complete server crash then.