I have a better idea. No saves at all. You're probably thinking "Hey hippo overlord, that idea sounds totally crazy!", but it makes sense when you think about it. If Beth wants to make the game world as immersive as possible, they will remove pausing and saving from the game! The game will become your world, your life, your EXISTENCE!!!
You will be forced to immerse yourself into the game like never before, because if you stop playing, you die. Also, to make dying have more consequence, you can only create one character per copy of the game. This way if you stop playing and die, you just lost 60 bucks!! This will keep the gameplay serious, and will prevent casual gamers from buying the game, thinking they can just play a few hours a day, and say "good enough."
I agree with the Mass Effect save style, but hippo (despite his joking) makes an interesting point too. In games like Oblivion, things like failing a quest or dying are just very minor inconveniences. It feels like dying and reloading a save serves no purpose other than wasting time.
"It feels like dying and reloading a save serves no purpose other than wasting time."
This brings me to my next point! Have you ever played other Oblivion games and been killed by mudcrabs and thought "Well now I have to reload my game and I haven't saved since I created my character. Uncle Hippo, what the scrib do I do??"
Well the solution, my friends, is invincibility!!! Now I know you're all thinking, "Hippo overlord, were you abused as a child or something??" Yes I was, but it's a great idea when you think about it! No more dying, only to have to reload! No more replaying areas when you forgot to save frequently!