To revive this one from the dead, I wanted to say that I just took a week’s vacation to play this game (yes, that’s what I use vacation for: playing video games). I’m not done with it. I’m talking, up at 8 or 8:30 and in bed around 2, from a Sunday to a Sunday (last night). There is just SO MUCH to do!
I’ve got to say having a character you like is the way to go. This character has been IMMENSELY more enjoyable to play with than the other two.
Alchemy, enchanting, and theiving: So darned useful I can’t imagine playing the game otherwise. I wouldn’t be where I am now if it weren’t for enchanting, and finding enchanted items. Though I find myself in the position of having about 40K in gold and nothing to spend it on. Yet I still collect weapons and prepare myself to sell them… hmm.
Being a vampire was an unexpected and immensely enjoyable experience. Wait… was? Heck, I still am a vampire. Though I have yet to find out what I can do with it (I do have the method for a cure available, however… stumbled upon that one rather surreptitiously). I’d recommend it to anyone who is intent on rummaging through all those Daedric Shrines… the stat bonuses help immensely. Of course, after the cure I’m going to have to relearn how to kill Dremora Lords and Golden Saints… 
Alchemy makes decent potions, what you’ll want most are telekinesis, levitation, water breathing/walking, restore health, and restore fatigue (and really only the last two if you are a magic user of some kind). And restore fatigue. And do not forget restore fatigue. You find so much saltrice in the game that you’d be crazy to not make all the restore fatigue potions you can handle. They are super handy. (I’d avoid making them with Kwama eggs or hound meat, though, as the resulting potions are quite heavy and take up valuable weight in your inventory.) The rest of the potions seem like they’d be cool but I never end up using them. But that doesn’t mean don’t make them… in fact, make them like crazy, find some alchemist (or if you’re a member of the mages guild then Ajira will like you at 100 after you do her quests, though she only has 800 septims) and just sell them. Alchemy is like free money… take everything you find in all boxes everywhere and just run with it. You can always sell them for cash. Right now I make restore fatigue potions that replace 43 points a second for over two mintues. Intelligence dominates your alchemy skill, so I imagine making fortify intelligence potions, taking one, then going crazy on the rest of your potions is a good idea (though some might consider it cheating, I’d say… it’s intelligent! ;)).
Enchant is too cool. I finally made my helmet with constant effect water breathing. Yea! It never occurred to me to use the fortify intelligence potions for this, but when I get home I am going for it. I have five or six Golden Saints waiting to be put to good use and a chest full of potions I’ve been too lazy to sell.
I can’t imagine not stealing in this game.
Favorite story so far: Breathing Water. Classic. 
Oh, and cliff racers don’t really bother me. In fact, they’re fun to snipe with my bound longbow (a must for archers as it fortifies marksman by 10 and has a 2-50 attack… the best I’ve seen yet; I never even carry a bow, I just made a spell that summons it for 18 seconds… one little magicka point!).