1: Some potion effects are way too powerful. Most notably damage attribute effects, restore magicka and feather. For example if the effect is damage health 10pt for 18s then the total damage from the poison is 180 health points.
2: Some shopkeepers have unlimited amounts of saltrice or several hundreds of them and the armorer in Balmora sells Orcish armors.
3: Some items, most notably misc bottles and imperial armors glow a lot.
4: Item icons should be changed to match the ones in Oblivion.

#1
I can answer to the four, as I put them there. We have actually discussed about it and decided things with Morrowind origin, should have Morrowind icons. We generally try to keep Morroblivion sperate from Oblivion as much as possible.
And seriously??? Are you implying that Oblivion icons are better than mine's!?!?! :D :D :P