i prefer "tgm", it's faster
It's not his fault Bethesda is making the same mistakes for more than 10 years...
Problem with balance with Elder Scrolls games lies in the fact that you can play it like:
1) a proper action RPG, doing quests and killing monsters and earning stat and skill points fair and square
2) a douche, exploit the game by stealing all available shit, selling it to traders and then using all those chests of gold coins to "train" attributes and skills.
First way is the right away and generates most fun. Second way is a shortcut and doesn't make sense because since the begining ES games were ultra easy for MIN-MAX freaks.
In Morrowind easiest way to do it was: go to the northeast tower in Balmora, steal the expensive sword, break into that house which has many expensive soul stones and steal them, then go to Ebonhart, steal some expensive things, then go to Caldera and sell all to that rat which buys things for original item price
In Oblivion it's even easier, just make a magic which will buff you to 100 in no time or exploit trading master teachers...