I was taking a piss at work and I started thinking... I sort of wish Bethesda made Red Dead Redemption. 
 
Don't get me wrong, the games looks fantastic and I'm getting it day 1. But I reeeeaaallly loved Oblivion. 
 
I kind of liked the first person perspective a little more. I find it a little more engaging. Plus, I loved admiring my shiny weapons up close.
 
Then I couldn't decide if I like first-person or third-person perspective open-world games. Third-person games are a little more vulnerable. You can add so many more mechanics and things to do. With first-person, you have be a little more exploration based maybe? Since it could be harder to implement driving and stuff (No offense Borderlands.)
 
So how do you guys like your open-world games?